- Who can make decisions in private enterprises and partnership companies?
Private enterprise: Only the owner
Partnership company: General partners (member council)
- How can owners in private enterprises and partnership companies make decisions?
- Who will pay for the enterprise's debt if the enterprise has no money?
Owners of enterprise by their own personal asset because there is unlimited liabilities form of enterprise
- Will partners who withdrew their capital still be liable for the enterprise's debts in partnership companies?
General partners still jointly liable for debts incurred before the terminating date with
all their assets within 2 years
- Will the owner of private enterprises, still be liable for the enterprise's debts if the
enterprise no longer exists?
The owner is still liable for debts incurred before the transaction is conducted. (sell, lease or dissolve...)
- if you hire a director and make decisions without your consensus, will you be liable for what he did?
Yes. Because owners are liable for daily business activities of the enterprise.
- If you have disagreements with your partners in partnership companies, are there any
ways you can leave the companies?
A general partner is entitled to withdraw capital from the partnership if it is accepted by
the Board of Partners. In this case, the withdrawing partner shall make a written
notification at least 06 months before the withdrawal date and may only withdraw
capital at the end of the fiscal year after the financial statement of the same year has been ratified.
- Can you establish another enterprise, when you are an owner of private enterprises or partnership companies? NO. Private enterprise:
- The owner of a sole proprietorship must not concurrently own a household business
or hold the position of general partner of a partnership.
- A sole proprietorship must not contribute capital upon establishment or purchase
shares or stakes of partnerships, limited liability companies or joint stock companies. Partnership company:
- Not be the owner of private enterprises or general partners of other companies unless
approved by the remaining general partners
- Not allowed to conduct the same business with the company for personal benefits or
interests of other organisations/individuals.
who has the highest decision making in partnership?
if you want to have full control of the partnership, how much money should you invest into the enterprise? Can you withdraw your capital?
how many approvals will you need to have to transfer your capital to someone else?
If you transfer your capital to someone else, will they automatically become a general partner?