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  • Commercial organizations
    Commercial organizations are divided into the following types:

    1. Partnership

    Partnership is an association of persons, established for business activity. Partnerships are established if there are 2 or more partners in the company’s organization. An important advantage of a partnership is the possibility of additional capital raising. Moreover, the presence of several owners allows to execute a specialization within the company on grounds of knowledge and skills of each of the partners.

    The disadvantages of this type of legal form:

    * Each of the participants bears equal financial responsibilities regardless of the amount of his/her deposit.

    * The actions performed by one of the partners are obligatory for the others even if they don’t agree with these actions.

    Partnerships can be of two types: the General Partnerships and the Partnerships en commandite.

    2. Companies

    Companies are divided into three groups: the Limited Liability Company, the Additional Liability Company and the Joint Stock Company.

    3. Production cooperative

    4. Governmental and Municipal Unitary Enterprises
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