Corporate law. The concept of a general partnership and its features (the most important)

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Corporate law. The concept of a general partnership and its features (the most important)

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42. The concept of a full partnership and its features

The provisions on a full partnership open a part of the Civil Code of the Russian Federation, which tells about the types of business partnerships and companies. A general partnership under one name or another has become known for a long time and is an organization, if not ideal, then at least the most desirable in terms of its lending. A general partnership has a number of features that distinguish this form of management from all others. A general partnership is closest to a limited partnership and an additional liability company.

"A general partnership is one of the organizational and legal forms of a legal entity, which differs from others by the combination of personal participation and property of its members for the joint organization of entrepreneurial activities. A general partnership acts in circulation as an independent subject of rights that makes transactions with third parties on its own behalf, acquiring rights to property in its own name, assuming obligations and acting in court on its own behalf. A general partnership has its own property, different from the property of its members."

There are two types of partnership - a general partnership and a limited partnership.

A partnership is recognized as full, the participants of which (general partners), in accordance with the agreement concluded between them, are engaged in entrepreneurial activities on behalf of the partnership and are liable for its obligations with their property.

Thus, the features of a general partnership are as follows:

1) is an organization;

2) consists of several participants;

3) each of its participants is a general partner and, accordingly, is endowed with a set of rights and obligations in relation to the partnership and other persons in connection with his participation in the general partnership;

4) the association of its members into a partnership and the activities of the partnership are determined by an agreement concluded by them independently in accordance with the legislation of the Russian Federation;

5) all general partners are liable to the creditors of the general partnership with all their property;

6) the general partnership carries out entrepreneurial activities, i.e. activities aimed at the systematic extraction of profit;

7) there are no management bodies in the general partnership;

8) participants in a general partnership act on its behalf.

A general partnership is an association of persons, not capital, as is customary for business companies, therefore the personal factor is very important for a general partnership.

It is also characteristic that in a full partnership there are no management bodies, there are no executive or any other bodies representing the organization. All the affairs of the partnership are managed by the full partners jointly.

Author: Sazykin A.V.

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