lOMoARcPSD|364 906 32 PARTNERSHIP COMPANY
-Legal representative: General partner. Highest decision-making authorities in partnership company
-Numbers of members: >= 2 people
-Member of partnership MUST NOT BE A MEMBER-OWNER OF ANOTHER COMPANY -For partnerships,
+ Unlimited liability partner: have the right to intervene in the operation of the company (Denoted as ULPs)
+ Limited liability partner: must not interfere in the operation of the company, and only receive
-Pass resolution when:-
+ 3/4 ULPs in some cases: receiving new members, amending or supplementing charter
capital, want to make large investments, dismiss ULP, dissolve or go bankrupt, borrow >= 50% of charter capital
+ 2/3 ULPS in other cases.
-ULP remains liable for 2 years for financial obligations incurred prior to termination of general partnership.
-GENERAL PARTNERS must not be concurrently OWNERS OF PRIVATE ENTERPRISE
-PARTNERSHIP COMPANY IS NOT ALLOWED TO BE CONVERTED INTO JOINT STOCK COMPANY