Partnerships and way to act in business

Extract

[...] Partnerships and ways to act in business I. The way to use a limited partnership - An alternative could be the limited partnership you need two partners to run the business (following the intuitu personae principle), then you could do commercial activities. The general partner run the business and has an unlimited liability in case of debt, while the limited partners manage it, and is liable only about the capital he invest thanks to a specific clause which imposes that the partnership is registered. [...]

[...] Then you cannot be director during a certain period of time, which could reach decades. You can earn interest by performing an intellectual activity for a company. If the majority of partners decide to exclude a partner, it's possible. The partner who's excluded could get a position against this decision in front of a court. 2288 article: Exclusion by operate of law. A partner who has been declared insolvent is expelled by operation of law. What if a partner is excluded? What about his liability? [...]

[...] In every partnership, a creditor could ask the partner he wants to fulfil the debt on his own, and then this partner could ask the other partners for the amount they owe him. II. Specialization of the unlimited partnership - The unlimited partnership (SNC société en nom collectif), at least two parteners who're going to be liable for all the obligations of the company. Not so useful because there is no advantage. Liability is unlimited for every partner, tax transparent, good solution for tax litigation, not very efficient because of the liability. With a special agreement a partner could limit his liability, however this agreement stands only between the partners * III. [...]

[...] A transport company operating by land, sea or air. and an agricultural entrepreneur is all about article 2135 CC: define "agricultural entrepreneur", on the basis of the activities he or she carries out: land cultivation, forestry (or forest cultivation) and animal breeding, and essentially commercial activities linked with the precedent's ones. The commercial entrepreneur is subject to all financial records, while an agricultural entrepreneur isn't. In addition, there is no bankruptcy for the AE, it's called insolvency, consequences aren't the same. [...]

[...] There are partnerships and companies. A company, definition art 2247 CC, a company is formed by an agreement (contratto di società) by which "two or more persons confer goods or services for the mutual performance of an economic activity with the purpose of sharing the profits". Cooperative = a company which doesn't distribute profits to its members but is still subject to bankruptcy Cassation Civil. A commercial activity, definition art 2249 CC, all the partnership apart the simple one could be used for a commercial purpose, and all companies in a strict way, industrial, commercial, and the other activities are defined by the simple partnership provisions. [...]