Partnership
A partnership arises when at least two legal entities ( natural and / or legal persons as well as partnerships) join forces to achieve a common purpose. A partnership can be the bearer of rights and obligations, depending on the country and type of company. The taxation of the profits of a partnership is based on the principle of transparency . See also co-entrepreneurship .
liability
A partnership usually has (limited) legal capacity , i. That is, it is an association of persons endowed with the ability to acquire rights and assume liabilities. Accordingly, some partnerships can also appear as a party in court.
The opposite concept within the corporate forms are the corporations . In contrast to a corporation, some partners in a partnership have unlimited liability, i.e. with the company's assets and with their private assets. The exception is the limited partner in a limited partnership , whose liability is limited to the amount of liability entered in the commercial register. The partnership company is a special case : Here there is a limitation of liability for professional errors.
Particularly in the Anglo-American legal area there are partnerships in which the liability of all partners is limited (such as the LLP, Limited Liability Partnership ).
Country specifics
Germany
Are partnerships
- the society under civil law (so-called GbR / BGB-Gesellschaft). The GbR is regulated in § 705 ff. BGB. It is the basic form of the OHG.
- the commercial companies :
- the open trading company (oHG), also as GmbH & Co. oHG
- the limited partnership (KG), also known as GmbH & Co. KG
- the partnership company (liberal professions)
- the maritime trading companies (expiring, new foundations are no longer possible since April 25, 2013):
- the construction company during the construction phase of the ship
- the partner shipping company after completion of the ship
- the quiet society (as a pure inner society )
- the European Economic Interest Grouping (EEIG)
Under German commercial law, partnerships are the open trading company and the limited partnership . The designation is derived from the fact that in the commercial partnership the connection of the individual persons to joint commercial transactions is in the foreground, while in the corporations ( stock corporation and GmbH ) the connection of the capital forms the legal starting point. Commercial partnerships and partnership companies are referred to as partnerships (for example in the Transformation Act ).
The GbR, the OHG and the limited partnership can also pursue purposes other than commercial ones. In particular, the KG is often used as an asset management company due to the limited liability of the limited partners.
Partnerships are not legal persons. However, they are covered by the concept of legal persons in the sense of constitutional law (cf. Art. 19 Para. 3 GG ), so they can be bearers of fundamental rights.
Austria
Typical partnerships include
- the civil law society (GesbR)
- Registered partnerships § 9 (1) GewO
- the open society (OG)
- the limited partnership (KG)
There is also in Austria
- the quiet company
- the cooperative
- the European Economic Interest Grouping (EEIG)
Switzerland
The following forms of partnership exist in Switzerland:
- the simple society
- the limited partnership (KmG)
- the general partnership (KlG)
Italy
In Italy there is
- Società semplice (simple company), which can best be compared with a company under civil law, largely corresponds to the simple company under Swiss law
- Società in accomandita semplice (limited partnership)
- Società in nome collettivo (Open (commercial) company)
As in Germany, the partnership is not a legal person in Italy either.
Poland
In Poland there is
- Spółka cywilna (Civil Law Society)
- Spółka jawna (Open Trading Company)
- Spółka komandytowa (limited partnership)
- Spółka partnerska (partner company)
- Spółka komandytowo – akcyjna (partnership limited by shares)
United States
Typical partnerships include
China
A Chinese partnership is
Web links
- Commercial Law Amendment Act (Austria)
- registered entrepreneur (Austria)
- Overview: partnerships
- Information on the partnership
Individual evidence
- ↑ Art. 71 para. 1 EGHGB. Sections 489 to 509 of the Commercial Code in the version valid up to this date remain authoritative for partner shipping companies and construction companies that were established before April 25, 2013.
- ↑ § 509 HGB old version
- ↑ §§ 489 ff. HGB old version
- ↑ Austrian Chamber of Commerce: What types of company are there in Austria? Accessed March 5, 2019 (German).