What are the parnership types?

The parnership types

The parnership types

by IBRAHIM TIAR -
Number of replies: 3

The types of partnership are :

1_General Partnership:

General partnerships (GP) are the easiest and cheapest type of partnership to form.  Two or more general partners own it, with joint and several legal liabilities for all debts and obligations. They jointly manage and control the business.

2_Limited Partnership:

A limited partnership (LP) is a type of partnership that limits the legal liability of some partners for debts and obligations. At least one limited partner is a passive contributor of cash and assets.  

3_Limited Liability Partnership:

A limited liability partnership (LLP) is an extension of a general partnership that limits the legal liability of all partners. General partners in this type of partnership have protection from the wrongful acts of the other partners, such as negligence, misbehavior, and other unprofessional conduct.  

4_Partnership Agreement:

In business, a partnership agreement is a contract stating the terms of a partnership – what it does, how it works, and how the partners can work together. The rights and responsibilities of the partners are a vital component.

 

In reply to IBRAHIM TIAR

Re: The parnership types

by Badreddine BERAHLIA -
You should focus on all types that are included in the Algerian law.
In reply to Badreddine BERAHLIA

Re: The parnership types

by IBRAHIM TIAR -
The types of partnership are :
1_General Partnership
General partnerships (GP) are the easiest and cheapest type of partnership to form.  Two or more general partners own it, with joint and several legal liabilities for all debts and obligations. They jointly manage and control the business.
2_Limited Partnership
A limited partnership (LP) is a type of partnership that limits the legal liability of some partners for debts and obligations. At least one limited partner is a passive contributor of cash and assets.  
3_Limited Liability Partnership
A limited liability partnership (LLP) is an extension of a general partnership that limits the legal liability of all partners. General partners in this type of partnership have protection from the wrongful acts of the other partners, such as negligence, misbehavior, and other unprofessional conduct.  
4_Partnership Agreement
In business, a partnership agreement is a contract stating the terms of a partnership – what it does, how it works, and how the partners can work together. The rights and responsibilities of the partners are a vital component.
5_Partnership Limited by Shares (SCA - Société en Commandite par Actions): A hybrid between partnerships and capital companies, with general partners having full liability and shareholders having limited liability.
6_Joint Stock Company (SPA - Société par Actions): A large company with shareholders whose liability is limited to their shares.