Unlimited liability enterprise

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Unlimited liability enterprise by Mind Map: Unlimited liability enterprise

1. Partnership company

1.1. Stucture

1.1.1. General partners

1.1.1.1. Rights

1.1.1.1.1. Can vote on company's matter

1.1.1.1.2. Use the company’s seal and assets to conduct the business operation on behalf of the company

1.1.1.1.3. Transfer their contributed capital to others

1.1.1.1.4. Withdraw their contributed capital if the members’ council approves

1.1.1.2. Obligations

1.1.1.2.1. Not be the owner of private enterprises or general partners of other companies

1.1.1.2.2. Cannot conduct the same business with the company

1.1.1.3. Is an individual

1.1.2. Limited partners

1.1.2.1. Rights

1.1.2.1.1. Can vote on company's matter

1.1.2.1.2. Vote on reorganisation and dissolution of the company

1.1.2.1.3. Transfer the contributed capital to others

1.1.2.2. Obligations

1.1.2.2.1. Refrain from management of the company and conducting business on behalf of the company

1.1.2.3. Can be an individual or a company

1.2. Member's council

1.2.1. Rights

1.2.1.1. Decide all business matters of the company

1.2.2. Chairmain

1.2.2.1. Elected by general partners in the council

1.2.2.2. Duties

1.2.2.2.1. Assign tasks and coordinate business activities among general partners

1.2.2.2.2. Manage and operate business activities

1.2.2.2.3. Represent the company before state organs, courts and arbitrations

1.2.3. Decision making

1.2.3.1. 3/4 approval of general parners in special cases

1.2.3.2. 2/3 approval in normal cases

2. Private enterprise

2.1. Owner

2.1.1. Rights

2.1.1.1. Decide an increase in or a decrease in capital

2.1.1.2. Decide all matters of the enterprise

2.1.1.3. Decide to sell or lease the enterprise

2.1.1.4. Directly manage daily business or hire a director /general director to manage daily business

2.1.1.5. Be a representative in law of the enterprise

2.1.2. Obligations

2.1.2.1. Pay tax

2.1.2.2. Conduct business activities within the business lines

2.1.2.3. Be liable for daily business activities of the enterprise

2.1.2.4. Present the company before courts, arbitrations