Unlimited Partnership

General Partnership - A general partnership, the basic form of partnership under common law, is in most countries an association of persons or an unincorporated company with the following major features: must be created by agreement, proof of existence and estoppel; formed by two or more persons; the owners are jointly and severally liable for any legal actions and debts the company may face, unless otherwise provided by law or in the agreement. It is a partnership in which partners share equally in both responsibility and liability.

Class Information

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Identification

Label (rdfs)
General Partnership
Preferred Label
Unlimited Partnership
Alternative Labels
General Partnership, GP
Identifier
ENTITY-GP

Definition and Examples

Definition
A general partnership, the basic form of partnership under common law, is in most countries an association of persons or an unincorporated company with the following major features: must be created by agreement, proof of existence and estoppel; formed by two or more persons; the owners are jointly and severally liable for any legal actions and debts the company may face, unless otherwise provided by law or in the agreement. It is a partnership in which partners share equally in both responsibility and liability.
Examples
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Translations

de-de
Offene Handelsgesellschaft
pt-br
Sociedade em nome coletivo
fr-fr
Société en nom collectif
zh-cn
普通合伙
ja-jp
普通合同会社

Class Relationships

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Additional Information

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Deprecated
False

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