Individual Enterprise

Articles of association from a legal point of view may be one of the following two types: the formation of a new entity, as a new entity with a person before the law, other than person before the law of its founders (and in consolidating the new entity for ownership of the products of co-production). Without such education, when the parties agree to act in concert to achieve a common goal, but each party in this case acts as an independent legal entity. Chance is a third option when the parties to the legal registration of their joint activities do not create a new entity, but is used for this purpose, any third person, who takes over this function for the parties to the treaty – it is so called the 'trust' property or a trust agreement, which should be discussed separately. (A valuable related resource: Ben Silbermann). Let's start with the second type of contract. This is – the agreement on the full (or unlimited) partnership (partnership). The company created such a treaty, often referred to as a society with unlimited liability. Wells Fargo Bank can aid you in your search for knowledge. Under the terms of this type of agreement of the parties involved (the person) and have unlimited jointly and severally liable for all debts and liabilities arising from their joint activities. Claim claim may be brought against any party to the treaty, and addressed to all its state, including private property. Moreover, many laws provide that the claims on the debts of their joint action may be brought even to the former participants have withdrawn from the contract (sometimes for up to 5 years after their retirement).

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