The current law divides the respective founders’ shares into capital, establishing the possibility of doing business by establishing companies together. These organizations can be formed in the form of business entities as a public partnership and limited partnership (run accumulation), or system, that can be formed in such organizational and legal forms, as partnerships. Immediate particular past system and functions will be discussed below.

Limited Affilitate – A business organization is a group of members divided into two groups. Business activities that involve the first group outsourcing elements (referred to as partners) are to assume responsibility for their existing property liabilities past on behalf of the Limited shareholders. The second group directly involves charter capital contributions within the values ​​included, taking into account the potential losses incurred by the participants in the partnership business behavior (up to such limited partners as referred to). Get to know more about llp company registration in India reading here. 

THE BASICS

Establishing a full alliance and establishing the governing body of the Act Under the provisions of civil law, the common partners of a particular partnership are not allowed to carry out their activities and are responsible for the respective obligations of the latter.

Only a limited number of participants are eligible to participate in the course, depending on the circumstances of the partnership. Next, in subjects that are members of the public consortium, the commando does not have the right to have full partner status.

The number of units made to players in conjunction with the status of Limited Shareholders should not exceed twenty units. When the number is violated in that event the limited joint must undergo a change in the economic community for a period of one year. If the said management is not changed at the end of the term, or the number of shareholders is not reduced to the specified limit, the management should be subject to process elimination by inquiry.

Civil laws governing public partnership activities can use event-limited partnerships so that they do not contradict the legal restrictions that ensure a limited joint operation.

ABOUT THE COMPANY NAME

Another requirement to be met by a limited partnership is provided by law – is a brand name. The latter must be formalized in one of the following options:

• All of the names of public partners in addition to the phrase “limited partnership”;
• prisovokupleniem phrase at least one common partner name “limited partnership and company.”

In that case, if the name of the company is taken into account in the name of an investor, the latter is required to obtain common partner status.

OF THE ASSOCIATION

The request of the association, which is maintained and maintained in accordance with the follow-up rules of the limited partner , is produced by all persons having the status of public partners who will sign.

In addition under art provisions. Civil Code Data 52, a limited collective agreement must include the following information:

• Positions that measure quantity and equity capital structure;
• The value of the first shares belonging to each of the public partners;
• Algorithm in changing the past;
• Package, as well as chronology in which contributions are made;
• Liability for said order violation;
• For the contribution made by the actors, it has gained the overall value depositors status.

LIABILITY LIMITED

All property it possesses is best liable for its obligations as provided by a particular shareholder by legislative rules. In the event that the latter is not sufficient to cover the debt for obligations, the debtor, like all of the public partners, as well as any of them are not entitled to bring their existing claims.

The public shareholder, with no limited co-founder status, is liable to the same extent as the rest of all other public partners (which have arisen before its entry into the past).

Limited Joint Interim General Partner, all participants responsible for the duties that came second have appeared before the date of removal to the same area. The report on the activities undertaken jointly during the year of discharge of liability will start from the date of approval, the deputy said for a period of two years.

JOINT MANAGEMENT ACTIVITIES

Another problem to be observed in a finite joint study – in which the latter is the controlled way. Thus, the limited joint ventures that exercise control are exclusively those with full shareholder status. Direct order, administration, as well as conducting business activity, public partnerships are carried out in accordance with the rules established by law on public partnerships.

Investors Limited Partnerships are not eligible to participate in post-management and cannot challenge the commitment to conduct management-related actions in the public partnership.

Therefore, considering all of the above, we can conclude that limited partnership – one of the most widely used forms for understanding law firms, with specific characteristics that allow sufficiently effective business.