1. Partnership refers to the general partnership and limited partnership established in China by natural persons, legal persons and other organizations in accordance with this Law. A partnership enterprise shall have two or more partners; There is a written partnership agreement; The amount of capital contribution subscribed or paid by the partners; Having the name of the partnership enterprise and the place of production and business operation.
2. Legal basis: Article 2 of the Partnership Enterprise Law of People's Republic of China (PRC).
The term "partnership enterprise" as mentioned in this Law refers to the general partnership enterprise and limited partnership enterprise established in China by natural persons, legal persons and other organizations in accordance with this Law.
A general partnership consists of general partners, who are jointly and severally liable for the debts of the partnership. Where this Law has special provisions on the liability form of general partners, such provisions shall prevail.
Limited partnership consists of general partner and limited partner. The general partner shall be jointly and severally liable for the debts of the partnership, and the limited partner shall be liable for the debts of the partnership to the extent of the capital contribution subscribed.
2. What are the conditions for establishing a partnership?
1. There are two or more partners, all of whom bear unlimited liability legally;
2. There is a written partnership agreement;
3. There is the amount of capital contribution actually paid by each partner;
4. Having the name of the partnership enterprise;
5. Having business premises and necessary conditions for engaging in partnership operation.