A Comparative Analysis Between the Three Different Types of Commercial Partnerships
Assignment Number: 1
11/26/2012
DIPLOMA IN FINANCIAL SERVICES OPERATIONS AND COMPLIANCE
Ms Maria Vella
A comparative analysis between the three different types of commercial partnerships
2012
INDEXT
1.
A comparative analysis between the three different types of commercial partnerships: a. the limitation of liability of the partners/members
b. the different rights of partners/members.
2.
The notion of separate legal personality
3.
Analysis the different classes of shares of public/private companies and rights attached to them.
2
Ms. Maria Vella
A comparative analysis between the three different types of commercial partnerships
2012
A partnership is a for-profit business association of two or more persons. Because the business component is defined broadly by state laws and because "persons" can include individuals, groups of individuals, companies, and corporations, partnerships are highly adaptable in form and vary in complexity. Each partner shares directly in the organization 's profits and shares control of the business operation. The consequence of this profit sharing is that partners are jointly and independently liable for the partnership 's debts. There are three kinds of partnerships
1. Partnership En Nom Collectif
2. Partnership En Commandite (limited partnership)
3. Commercial Partnership – Limited Liability companies
All the above three types of partnership have to be registered with the Registrar of Companies, upon registration, when the Memorandum and Articles of Association is issued and the fee is paid. The partnership come into existence and acquires a separate legal personality from that of their shareholders.
The partners draw up the Deed of Partnership. A partnership shall not be validly constituted unless such Deed is entered into and signed and a certificate of registration is issued. The Deed of Partnership must state:
The name and residence of each of the
11/26/2012
DIPLOMA IN FINANCIAL SERVICES OPERATIONS AND COMPLIANCE
Ms Maria Vella
A comparative analysis between the three different types of commercial partnerships
2012
INDEXT
1.
A comparative analysis between the three different types of commercial partnerships: a. the limitation of liability of the partners/members
b. the different rights of partners/members.
2.
The notion of separate legal personality
3.
Analysis the different classes of shares of public/private companies and rights attached to them.
2
Ms. Maria Vella
A comparative analysis between the three different types of commercial partnerships
2012
A partnership is a for-profit business association of two or more persons. Because the business component is defined broadly by state laws and because "persons" can include individuals, groups of individuals, companies, and corporations, partnerships are highly adaptable in form and vary in complexity. Each partner shares directly in the organization 's profits and shares control of the business operation. The consequence of this profit sharing is that partners are jointly and independently liable for the partnership 's debts. There are three kinds of partnerships
1. Partnership En Nom Collectif
2. Partnership En Commandite (limited partnership)
3. Commercial Partnership – Limited Liability companies
All the above three types of partnership have to be registered with the Registrar of Companies, upon registration, when the Memorandum and Articles of Association is issued and the fee is paid. The partnership come into existence and acquires a separate legal personality from that of their shareholders.
The partners draw up the Deed of Partnership. A partnership shall not be validly constituted unless such Deed is entered into and signed and a certificate of registration is issued. The Deed of Partnership must state:
The name and residence of each of the