Concept: View business partnerships, whose participants (general partners), in accordance with the agreement concluded between them, are engaged in entrepreneurial activity on behalf of the partnership.
Features of the institution: The name must "contain either the names (titles) of all its participants and the words" full partnership", or the name (title) of one or more participants with the addition of the words" and company "and the words" general partnership ".
Owners status: The participants in a full partnership are called general partners and can only be individual entrepreneurs and (or) commercial organizations (and they can no longer participate in other general partnerships).
Sources of capital formation: The joint stock capital of the partnership is made up of the value of the contributions made by the partners and guarantees the interests of the creditors of the partnership. By mutual agreement of the participants, the contribution to the pooled capital can be made as personal property and non-property rights. The terms for making deposits by each participant are determined by the agreement. A general partnership is not entitled to issue shares.
Rights: Receive income in proportion to the contribution to the pooled capital; participate in the management of the partnership; receive information about the activities of the partnership; to get acquainted with his accounting books and other documentation in accordance with the procedure established by the constituent documents; to take part in the distribution of profits, to receive, in the event of liquidation of the partnership, part of the property remaining after settlements with creditors, or its value; withdraw from the partnership at any time; transfer your share to another PT participant, or to a third party.
Control features: The management of the activities of a full partnership is carried out by the general agreement of all participants. The founding agreement of the partnership may provide for cases when a decision is made by a majority vote of the participants. Each participant in a full partnership has the right to act on behalf of the partnership, unless the constituent agreement establishes that all its participants conduct business jointly, or the conduct of business is entrusted to separate participants. In the case of joint management of the affairs of a partnership by its participants, the consent of all participants in the partnership is required to complete each transaction. If the conduct of business is entrusted to one or several participants, the remaining participants must have a power of attorney from the participant (participants) who is entrusted with the conduct of business in order to conclude transactions on behalf of the partnership.
Responsibility for obligations: The participants in a full partnership jointly bear subsidiary liability with their property for the obligations of the partnership. A participant in a full partnership, who is not its founder, is liable on an equal basis with other participants for obligations that arose before he entered the partnership. A participant who retired from the partnership is liable for the partnership's obligations that arose before the time of its retirement, on an equal basis with the remaining participants within two years from the date of approval of the report on the activities of the partnership for the year in which he left the partnership.
Distribution of profit and loss: The profits and losses of a full partnership are distributed among its participants in proportion to their shares in the contributed capital, unless otherwise provided by the memorandum of association.
The main provisions of the charter and articles of association: The constituent document of a full partnership is the memorandum of association. The founding agreement of a full partnership must determine: the name of the full partnership; its location; the procedure for managing the activities of the partnership; conditions on the size and composition of the joint stock capital of the partnership; conditions on the amount and procedure for changing the shares of each of the participants in the contributed capital; conditions on the amount, composition, timing and procedure for making contributions by participants; conditions on the liability of participants for violation of obligations to make contributions.
Number of participants: The minimum is 2.
Russian legislation provides for a wide range of organizational and legal forms of doing business. Among those that are traditionally popular among entrepreneurs are JSC, JSC. It is also common to carry out activities in the status of individual entrepreneurs. At the same time, the Civil Code of the Russian Federation contains provisions that allow Russian businessmen to engage in commercial activities through the establishment of partnerships. The organizational and legal form of business of this type is presented in two varieties: partnerships are full and limited. What is the specificity of each of the marked types of organizations? What are the benefits of doing business in an appropriate legal and organizational status?
The essence of the legal form
The Civil Code of the Russian Federation defines a general partnership as an economic association, the founders of which, according to the signed agreement, carry out entrepreneurial activities and are personally liable for emerging obligations. A citizen can be a member of only one partnership of the type in question.
This legal form of entrepreneurial activity involves the creation of a legal entity. A general partnership must therefore have an official name. But it can be expressed in different ways. First option: a name that looks like a listing of the names of all founders. The second option: specifying the names of the main or several key participants, as well as the phrase "and company."
The nuances of the establishment process
An economic general partnership is created on the basis of a memorandum of association signed by all participants. This document must meet the criteria defined in Article 52 of the Civil Code of the Russian Federation. In order to establish a partnership, it will be necessary to form a joint capital - in some way an analogue of the charter capital, which is necessary when registering an LLC or JSC. At the same time, the requirements regarding the minimum amount of the contributed capital are not established in the Russian legislation.
Contract and capital
Unlike LLCs and JSCs, a charter is not required to establish an organization. That is, a full partnership agreement is the only document that is needed to register a business of the corresponding type. The shares of each partner in the contributed capital are prescribed in the memorandum of association. It also fixes provisions that reflect the specifics of joint business, the rights and obligations of each of the participants, the procedure for distributing proceeds, etc.
The capital of a general partnership is divided in proportions, which, as we noted above, are determined in the memorandum of association. As a rule, the proportions that are set at the level of distribution of shares determine the subsequent formula for personification of the organization's revenues and losses, but other principles may be reflected in the agreement.
Each of the founders must fulfill at least half of their obligations to form an appropriate corporate financial fund by the time the organization is registered. The rest - within the terms, which are determined by the contract. If one of the partners does not contribute his share of the contributed capital on time, he will be obliged to pay penalty interest. An economic general partnership can be established not only by individuals, but also by organizations.
The structure of the memorandum of association
Consider the features of the structure of the memorandum of association for partnerships. What provisions should be present in it?
A typical relevant agreement may include the following clauses:
- the official name of the organization;
- address of the location of the company;
- the procedure for managing the business of the partnership;
- conditions relating to the size and structure of the organization's pooled capital;
- information on the size and methods of changing the shares of general partners in the capital of the organization;
- conditions reflecting the size, structure, timing, as well as the procedure for making additional investments by general partners and mechanisms of responsibility for refusal to comply with the relevant instructions;
- information on the aggregate amount of investment contributions to the business.
Thus, the constituent agreement must contain provisions reflecting the fact that the participants undertake to register the organization as a legal entity, determine the procedure for joint business management, create conditions for investments, transfer of property.
Note that within the framework of the corresponding agreement, the conditions for the distribution of proceeds between the partners, as well as the procedure for the withdrawal of participants from the structure of the organization, are still fixed.
The rights of participants in a full partnership
Consider what rights for participants in a full partnership are guaranteed by Russian legislation... Among the key ones:
- receiving income, which is calculated in proportion to the share in the contributed capital of the organization;
- participation in doing business, managing the affairs of the company;
- obtaining the necessary information about the results of the organization's work, familiarization with accounting reports and other documents related to the activities of the company;
- participation in the distribution of proceeds.
Also, the general associates are assigned the right to freely withdraw from the firm.
Obligations of participants in a full partnership
In turn, general comrades must be prepared to take on a range of responsibilities. Among the main ones:
- incur expenses that are proportional to the size of the share in the contributed capital;
- bring in cash in the capital of the company in accordance with the conditions specified in the memorandum of association;
- maintain confidentiality related to business processes, trade secrets.
It can be noted that in many general partnerships the memorandum of association contains a clause stating that members of the organization are not entitled to make transactions on their own and in their personal interests, which repeat the essence of the business, which is the main one for the company.
Let's consider the specifics of joint business conduct in firms with the appropriate legal status.
Joint business management
A general partnership assumes that each of its founders has an equal number of votes used at meetings, unless otherwise specified in the contract. Each member of the firm has the right to study the documentation related to the business. Also, any person from among the founders can carry out activities on behalf of the entire partnership, unless otherwise specified in the memorandum of association. But it is quite possible that the corresponding document will only allow joint management of affairs. In this case, the consent of all founders is required to conclude transactions.
Distribution of proceeds
If an enterprise created on the basis of such a legal form as a general partnership makes a profit, then it is distributed among the founders of the organization in accordance with the share of each in the contributed capital, unless other rules are established in the contract.
Business losses are distributed in a similar way. If the amount of the company's net assets is lower than the amount of the contributed capital, then the profit is not subject to distribution among the participants in the partnership.
A responsibility
The liability of the participants in a full partnership is subsidiary. The founders of the company are responsible for the possible obligations of the organization with their property. At the same time, if a new entrepreneur who was not included in the founders entered the partnership, then he must be ready to take on part of the existing obligations that have arisen to the organization, in proportion to his share in the contributed capital.
If the property of a full partnership does not allow, due to insufficient volumes, to pay off the debts of the organization, then the founders must compensate for the corresponding obligations at the expense of personal property in proportion to the shares in the contributed capital.
Withdrawal from the partnership
Any member of the partnership has the right to withdraw from the organization by writing an appropriate application. But this must be done 6 months before the planned exit from the business. True, for a good reason, colleagues can allow a person to leave the organization ahead of schedule. A participant who has withdrawn from the partnership is paid a share of the firm's property in proportion to that established for him in relation to the contributed capital, unless the agreement contains other conditions.
Payment is made in cash (or, if an agreement is reached, in kind). The amount of payments is determined by the balance sheet indicators at the time a person leaves the business. At the same time, the shares of other participants in the partnership are increasing. Each founder of the organization can transfer his share in the contributed capital to his other colleagues or even third parties, but only with the consent of other entrepreneurs.
Specificity of limited partnerships
Russian legislation allows for such legal forms of doing business as general and limited partnerships. The main feature of the former: the responsibility of all participants is subsidiary. In turn, in the structure of the limited category organizations, also called limited partnerships, there may be subjects with a special status. We are talking about limited depositors. These persons are liable only to the extent of their contributions.
Thus, in the composition of faith partnerships there are two groups of participants. Firstly, they are general comrades who play a key role in the business. Secondly, these are investors who expect, by investing in the business of their comrades, to receive income or aim to help them develop the business. It can be noted that the limited partners, transferring amounts to the business within the framework of deposits, register them as the property of the organization. This assumes that they have complete confidence in the company. This, in fact, is the reason for the name of the corresponding type of organization, which sounds like "limited partnership". As soon as the investor makes the required investment amount, he is issued a certificate confirming this action.
Regardless of what the status of the organization is - limited or full partnership, the characteristics of the legal status of the founders of the company are practically the same. Liability mechanisms are similar, except that in limited partnerships they may imply a slightly reduced debt burden due to additional investment from depositors. If the limited partners withdraw their contributions in accordance with the established procedure, then in this case the limited partnership is transformed into a full partnership. But as long as there are contributions from limited partners in the capital structure of the organization, the partnership is named accordingly. Namely: its corporate name should contain the names of all founders, as well as the phrase “ limited partnership».
Investors' rights
What are the rights of limited partners? First of all, they can count on receiving a part of the firm's proceeds in relation to their share in the contributed capital. Also, limited partners have the right to freely leave the business - but only at the end fiscal year... Investors can also transfer their share to other business participants in the partnership or to third parties. The consent of the founders of the company is not required. Despite the fact that limited partners cannot make key decisions in business, they have the right to get acquainted with the financial documentation of the enterprise.
With regard to such an aspect as liability for obligations, the general partnership must be willing to pay contributions to the limited partners in the liquidation of the firm. However, not as a matter of priority, but only after the founders have settled with other creditors.
Liquidation
The considered form of business can be liquidated in court or by virtue of a decision made by the founders. If only one participant remains in the partnership, then he can subsequently transform the organization into another legal form of doing business.
Why are partnerships created?
What is the reason for the demand in business for such an organizational and legal form as a general partnership? The characteristics of companies operating under this status presupposes that all its participants are ready to carry out activities subject to complete mutual trust. They need to understand that if the transaction fails, everyone will be held accountable. As a rule, such a form of business as a general partnership is typical for family businesses.
As for the standard forms of relationships in business, when partners and counterparties are in general case are not relatives and they are not bound by some common ideological values, then a full partnership is not the most demanded organizational and legal form. This is mainly due to the fact that the liability of a general partnership for obligations has no fixed limits.
General partnership - an association of entrepreneurs economic basis to engage in joint financial and commercial activities within the framework of existing legislation.
According to Part 1 of Art. 69 of the Civil Code of the Russian Federation, such a partnership is a community whose participants are engaged in entrepreneurial activity exclusively jointly... All obligations assumed by one of them and not fulfilled by him must be fulfilled by the rest. Having assumed specific obligations, the participants are obliged to answer them not only by joint, but also by personal means, which is a huge inconvenience for themselves, but insures clients using the services of this association.
When joining the community, you need to be prepared for the fact that becoming a member of any other similar organization will fail. Each association has its own corporate name, which may consist of the names of all its members with the addition of the phrase "full partnership" or from the name of one member with the addition of the same phrase or "company".
Founders and constituent documents
The founders of this association may be individual entrepreneurs and commercial firms... The main constituent document is the constituent agreement, the signing of which is mandatory for all participants.
- the name of the organization being created;
- the address where it is located;
- in what order the activity will be carried out;
- the amount of total contributions;
- the amount of the share contribution of each of the participants;
- time of payment of entrance fees;
- measures of responsibility for violation of this agreement.
In accordance with the memorandum of association, a legal entity is created, the procedure for implementing common work, the conditions for the existence of the property of this legal entity are being discussed. persons, as well as the conditions on the basis of which the partners carry out their activities.
In addition, the contract is intended to define the terms on which the estimated gains and losses will be allocated. The agreement also specifies how the procedure for admission to the partnership and withdrawal from it will take place.
Number, rights, duties and responsibilities of participants
The main condition for the creation of such an association is the presence in it at least two participants... Their rights and obligations are determined by the memorandum of association, as well as the amount that each of them is ready to provide in a common piggy bank, the so-called pooled capital.
When making any decision, general partners proceed from the interests of each of them, each has one vote on the council. The exceptions are cases when the presence of a vote for all participants is not provided for in the constituent document, in which case all decisions are made as a result of counting the majority of votes.
In addition to the above, each of them has the right to:
- receiving income, the amount of which is commensurate with the size of the contribution;
- participation in all affairs of a legal entity;
- obtaining information about the work of the partnership, its financial condition and constituent documents;
- obtaining information regarding the distribution of the received profit;
- property remaining after the reorganization;
- exit from the association at any time convenient for him.
The responsibility of each full partner is distributed to all, regardless of the size of the contribution. This condition assumes that all participants are responsible for each other's actions. not only with their contributions, but also with personal property.
In addition, they are required to:
- to allocate a part of financial assets for investment in pooled capital;
- pay at least 50% of the total capital upon joining and deposit the remainder as soon as possible;
- if it is impossible to pay in full the entire amount specified in the constituent document, the participant undertakes to pay 10% of the forfeit calculated on the amount of the remaining debt and designed to compensate the losses of the remaining partners incurred in the process of existence with incomplete pooled capital.
- keep confidential information concerning the work of the organization, if it is required by common interests;
- actively participate in all activities of the community;
- not to make transactions similar to transactions in which all members of the partnership must take part, on their own behalf.
Objectives of the activity
The purpose of the existence of this association is to facilitate entrepreneurial activity in different areas... Thanks to the total capital, the formed legal entity can do business much better than any of the comrades could do separately.
The trust on the part of clients in the partnership is higher than in individual representatives of such a business. Community activities can be related to construction, the development of new technologies, tailoring on an industrial scale, and the like.
You can find out the procedure for conducting the affairs of such an organization according to the Civil Code of the Russian Federation from the following video:
Governing bodies
The association is managed by all the comrades who formed it, unless otherwise stated in the constituent document. All participants have one vote and are entitled to act on behalf of the others. An exception are cases when the contract stipulates in advance the joint management of all cases.
In this case, when the next transaction requiring a decision is made, a council of all the partners is assembled.
When doing business on behalf of the majority, each participant who practices this approach must have a power of attorney signed by the others. If the confidence in one of the members is shaken, his powers may be terminated by a court decision, about which a corresponding entry is made in the memorandum of association.
As such, the management bodies of the partnership do not exist, since in most cases the participants act on a common behalf.
Registration procedure
To register, you must provide the following information and documents:
- the name of the future organization;
- the type of activity that you plan to engage in;
- size information authorized capital, including the procedure for its payment;
- information about the selected taxation system;
- the permanent address at which the organization is located (it is allowed to indicate the address of a rented or non-residential premises);
- information about the founders, as well as copies of constituent documents.
In this case, you will need to pay about 4 thousand rubles... The application for opening is signed by an authorized person and certified by a notary.
Liquidation and reorganization
These procedures are carried out in accordance with Art. 61 of the Civil Code of the Russian Federation. Besides, this association can be considered liquidated in the event that if all members leave it or it consists of one participant... The remaining comrade has the right to transform the organization into a business entity, acting in accordance with the Civil Code of the Russian Federation. This transformation can be carried out no later than 6 months after the actual disappearance of the community.
In addition, liquidation can occur if it is provided for by the memorandum of association. In other cases, the existence of the organization is considered indefinite and not subject to either reorganization or liquidation.
Advantages and disadvantages
A general partnership has both advantages and disadvantages. Fortunately, the latter are much smaller, but they are still there.
So, the advantages of the legal form are:
- Additional funds. Thanks to the admission of new members to the association, it receives a lot of additional funds that can be used for further development entrepreneurial activity.
- Confidence. Potential lenders trust such an organization more than firms.
The only but very significant disadvantage is the need to pay general debts out of your own pocket. Comrades always risk not only common but also personal property.
An example of the organization's functioning
An example is the association organized, for example, by individual entrepreneurs N. I. Ivanov, V. V. Sokolov and E. P. Myagkova on March 1, 2003. These entrepreneurs formed a full partnership "Ivanov and Co" for the production of knitted clothes.
For the first period of work, the profit amounted to at least 30,000 rubles. Half of it was distributed in proportion to the amount of earnings, and the rest was divided equally among all participants, which was stipulated in the memorandum of association.
V recent times it is almost impossible to meet such a community, but in the past it was this organizational and legal form of doing business that was most widely used, especially on the American continent and in Russia XIX century.
Comparison with a limited partnership
In addition to full partnerships, there are also limited partnerships, which are also called limited partnerships. The main difference between them is the need to pay bills with personal property, if we are talking about the full version, and the absence of such a need in the second case.
Comrades in faith always risk exclusively their own contributions, but their personal property remains intact.
In the event that several comrades in faith have joined the full association, then the latter do not accept any active participation in entrepreneurial activity, but are obliged to pay entrance and other fees on time.
The community in faith has the right to exercise any commercial activities, not contradicting the law, take part in charity, provide marketing and consulting services, create conditions for the use of the latest scientific and technical innovations.
Other important nuances
Withdrawal from such an organization is unlimited... The participant who has left the association is paid compensation equal to the estimated value of the part of the joint property to which he can apply. By agreement of the parties, compensation can be replaced by the receipt of property in kind.
For example, a friend may demand back a personal car, computer, household and agricultural equipment. The amount due is determined based on the balance, which is drawn up immediately after the decision to withdraw.
In the event of the death of a friend, his property is transferred to the heirs. Moreover, the latter cannot become members of the organization without the permission of all its participants.
With a decrease in the number of comrades, the amount of the contributed capital increases. The exceptions are cases prescribed in the constituent document.
In Russia, there are various legal types of entrepreneurial and non-profit organizations... The general partnership stands out in a special way - an organizational and legal type of entrepreneurship, which is now used less and less. Distinctive feature lies in the level of responsibility of partners.
Full partnership - what is it?
It is customary to distinguish between various legal forms of entrepreneurial, and not only, activities. They are different in their specifics, characteristics and level of responsibility. Among the queries “partnership full description”You can find a huge amount of information about various aspects of this organizational and legal type. Also close in meaning is a society based on faith. They differ only in some obligations and responsibilities of the participants.
Distinctive features of full and business entities on faith are the following:
- the only and main constituent act is the contract;
- occupation is the implementation of commercial activities;
- participants in a full partnership and limited partnership function on his behalf;
- the partnership is formed at the expense of the authorized capital;
- responsibility for the work of society is joint and several, as well as subsidiary, i.e. any of the participants responds with capital funds in proportion to the invested share.
The name of the organization must contain the names or surnames of its members with the postscript “general partnership”. In a similar way, it can be compiled on the basis of the data of one person, but then it is required to add “and the company”.
Federal and civil legislation regulates the work of general partnerships and limited companies, namely Federal Law No. 51 and.
The authorized capital of a full partnership
Like any economic object engaged in entrepreneurship and commerce, a complete and society in faith must have an initial (authorized capital). It is formed from the contribution of each of the participants and determines their share of the income and losses in the future. Limits of the smallest and largest size the authorized capital is not established by law, and therefore are determined by the founders independently.
Number of participants in a full partnership
According to civil law, a general partnership and a limited company cannot be composed of only one person. There must be at least two organizers. At the same time, only legal entities... Participants can be individual entrepreneurs or individual entrepreneurs.
Maximum allowable values they have no restrictions on the number of partners. In this case, the rights, as well as the liability of the participants, are disbanded in proportion to their share of the funds that were contributed to the initial capital. Income and costs are distributed according to the same principle. Each partner is responsible.
It is important that a person who is a member of a society cannot be a member of other similar organizations. And when all members leave, in the event that one participant remains in the partnership, reorganization into another economic entity is possible within six months.
Governing bodies of a full partnership
A distinctive feature of a full partnership and a limited company is trust management. Decisions are made jointly, by all participants, or by voting. The principle determines the memorandum of association. He can also determine which of the members has what weight of the vote.
Based on the fact that each of the partners functions on behalf of the partnership on faith and is responsible for its activities, then everyone has the right to conclude transactions. Exceptions are possible if the contract stipulates the maintenance of economic activity one or more specific members. In this case, others will need a power of attorney to complete commercial agreements.
Economic general partnership - the essence
The definition, characteristics and features of faith entrepreneurship speak of its essence. It is concluded in the joint activity of all partners and the same responsibility. The amount of profit received, reimbursable costs, as well as rights and obligations are based on the amount of funds invested in the initial capital of the company with full responsibility.
Federal Law on full partnership
The law regulates the activities business organizations, including this form of entrepreneurship on full responsibility. In particular, the rules for organizing such communities are described in Federal Law 51. It describes the main issues regarding the organization of this form of entrepreneurship on faith:
- requirements for the main contract;
- the order of the organization of the company;
- the procedure for carrying out activities;
- the rights and obligations of the participants;
- the procedure for liquidating a partnership, as well as withdrawing from it.
Business partnerships can be created in the form of a full partnership and limited partnership.
Characteristics of a full partnership
Full partnership is an commercial organization, the participants of which concluded an agreement among themselves on the creation of an enterprise for the joint conduct of certain economic activities.
1. Participants n full partnership are individual entrepreneurs and / or commercial organizations. At the same time, they retain complete independence and the rights of a legal entity.
2. The source of formation of the property of the partnership is the contributions of its participants.
3. Profits and losses are distributed among the participants in proportion to their shares in the contributed capital.
4. The entrepreneurial activity of its participants is recognized as the activity of the partnership itself as a legal entity.
5. In the event of a lack of property of the partnership to pay off its debts, the claims of creditors are satisfied at the expense of the personal property of any of the participants (or all together), i.e. joint and several subsidiary liability.
6. An individual entrepreneur or a commercial organization can be members of only one full partnership.
7. On general meeting each participant has one vote. Upon retirement from the partnership, the participant receives a share of the property equal to his share in the contributed capital. In this case, the rest of the participants contribute the amount paid to the retired, or reduce the amount of the contributed capital. Consolidation of property is also possible on the basis of a joint activity agreement.
8. If only one participant remains in a full partnership, he is obliged to transform it into joint-stock company, society with limited liability or an additional liability company.
9. The only constituent document is the Memorandum of Association. In a partnership, organs are not formed that express its will outwardly.
10. The law does not provide for the minimum amount of the contributed capital.
Advantages:
1. It is possible to accumulate significant funds in a short time;
2. Each member of the partnership may engage in entrepreneurial activity on behalf of the partnership;
3. General partnerships are more attractive to lenders;
4. It is possible to receive tax benefits.
Disadvantages:
1. Between general partners there must be a relationship of trust;
2. A partnership cannot be a company of one person;
3. In the event of bankruptcy, each member of the partnership is liable for his obligations not only with his contribution, but also with his personal property.
Characteristics of a limited partnership
Fellowship on Faith (limited partnership) is a kind of full partnership with some peculiarities.
1. Consists of 2 groups of participants: general comrades and contributors. General partners carry out entrepreneurial activities on behalf of the partnership itself and bear unlimited and joint liability for the partnership's obligations.
2. Investors can be any legal and / or natural person. Investors only make contributions to the property of the partnership, but do not answer with their personal property for its obligations. They do not have the right to participate in the management of the partnership and act on its behalf, but they have the right to get acquainted with its financial activities.
3. Investors have the right to receive a share of the profit proportional to their contributions. They can freely withdraw from the partnership and receive their contribution. They can transfer their share to another investor or third party without the consent of the partnership or general partners.
4. Constituent document there is also a memorandum of association, which is signed only by general partners.
5. The investor can withdraw from the partnership at any time, while he receives only his contribution to the contributed capital, but does not have the right to receive a part of the property proportional to his share in the contributed capital.
Benefits of a limited partnership:
1. The same as for a full partnership;
2. To increase capital, they can attract funds from depositors.
Disadvantages of limited partnership:
1. The same as for a full partnership.
Types of business partnerships:
1.Full partnership- a commercial organization, the participants of which (general partners), in accordance with the agreement concluded between them, are engaged in entrepreneurial activity and bear full responsibility for all property belonging to them (including personal).
2. Fellowship on Faith(TV - limited partnership) includes general partners and contributors (limited partners). The status of general partners is similar to that of a general partnership. Limited partners do not take part in entrepreneurial activities and bear the risk of losses of the partnership within the limits of their contributions.
3. The business company is considered to be a subsidiary, if another (main) business company or partnership has the ability to determine its decisions. Full or subsidiary responsibility for the results of activities of the subsidiary is imposed on the main business company or partnership.
4. A business company is recognized as dependent, if the other (participating in its affairs) company has more than twenty percent of voting shares or twenty percent of the authorized capital of the LLC.
