The elemental features of a partnership

Nowadays, the number of companies is incorporated to meet the need of society. One of the most favorite kinds of company is partnership. So, if you want to incorpotate a partnership, you must know clearly what is elemental features of it, such as about: members, legal responsibility of members, legal person status, securities issuance.

Legal ground: Article 172 of the Enterprise Law 2014
• There must be at least two members who are joint owners of the company and jointly conduct business under one common name (here called partner); Apart from partners, there could be more of partnership contributors;
• Partners must be an individual and responsible for all liabilities of the company with all their assets
• Partnership contributors are only responsible for the debts of the company correspond to the amount of capital which they have contributed to the company;

• A partnership has legal person status from the date of issuance of the Enterprise Registration Certificate;
• Partnership is not allowed to issue any type of securities.