Organizational and legal forms of legal entities : limited partnership, general partnership , LLC , ALC , corporation , co-operative

Modern man often hears the words "limited partnership", "Company" and so on.Let's look at the most famous organizational and legal types of association:

1. The first historical form of business entity is a general partnership.It is characterized by a full subsidiary liability of its members their obligations.Participants can be from 2 to 50 businesses.The only document of the partnership concluded between the general partners (members), - memorandum of association.Declared authorized capital (its no minimum) must be formed before the state registration of at least half.

On his behalf, the right to speak of any party, so a general partnership does not include the usual post of the head, for example, the director.

2. Limited partnership - similar to the previous form of association with the difference that in addition to members of the general partners are limited partners (legal entities and individuals) whose duties are limited to making a contribution to the authorized capital.Each of them is

a separate contract.Limited partnership does not imply a subsidiary responsibility.

When you exit from the partnership general partner receives part of the property of a limited partnership, which is proportional to its share in the authorized capital, limited partner - only the amount of their contribution.

3. Limited Liability Company (LLC) - a commercial organization, to which can be from 1 to 50 individuals and legal entities that do not meet the obligations of their property.Papers Ltd. - memorandum and articles of association.The minimum authorized capital is determined in the amount of 100 minimum monthly wages.

Member shall be entitled to dispose of the share capital, fully paid for it, or to carry out of the company with payment of part of the property of the organization, its proportionate share in the company.

4. The next form - Additional Liability Company (ALC) is different from the company only provided constituent documents and additional (subsidiary) liability for the obligations of participants in ODL.

5. The joint stock company is characterized by the division of the share capital by a certain number of shares, may be open (free to sell the issued shares, for a minimum authorized capital - in 1000 the minimum wage) or closed (may distribute the shares among specific charter circle of people, at least for the share capital -100 SMIC).The founding document - the charter.Before the state registration must be fully formed authorized capital.

shareholder is not entitled to withdraw from the company, it can only sell (alienate otherwise) their shares at a bargain price.

6. A production cooperative (team of) referred to the union membership on the basis of the citizens who have made share contribution for joint economic activities.The founding document - the charter.The production cooperative may not be less than 5 have reached the age of 16 individuals.Personal participation of cooperative members in its activities is mandatory.Members of the cooperative for its obligations bear subsidiary liability.A member may withdraw from the cooperative, and the cost is paid only introduced unit, similar to a limited partnership as a limited partner at the exit he pays only the cost of a deposit.

7. Commercial organizations exist in the form of unitary enterprises of two types - public and municipal.Characterized by the fact they do not have ownership in their possession fixed sole founder of the property.Commercial organization unitary enterprise can be breech (founder shall bear subsidiary liability) or on the right of business (subsidiary liability established by the law of the founder in some cases).