Fellowship on faith
A full partnership means the association of a grouppeople or entrepreneurs, created to achieve the objectives. Moreover, this organizational and legal form presupposes the existence of simple investors, who are responsible for the company's obligations strictly within the limits of the amount of its investments, and participants with the right to vote and full responsibility. The first to be called limited partners, they do not take any decisions, but only invest in order to make profit in the future.
According to the current legislation,a partnership on faith is an organization into which both a legal entity and an individual can join, provided a certain contribution is made to the authorized capital. However, only com- panies of a commercial type or individual entrepreneurs can be full comrades, they will also bear joint responsibility in the event of difficult situations. And simple investors are legal entities that do not want to risk all their property, or individual citizens.
As is known, for registration and registration of anyan enterprise needs a whole package of documents. A partnership on the faith requires the development of a foundation agreement, which is subsequently signed by every full comrade. This means that he assumes these obligations and agrees with each clause of the contract. Simple depositors do not need to sign this document.
A full partnership begins anda partnership on faith at the expense of the authorized fund, which in turn is formed from the contributions of participants. The starting capital is fully owned by the partnership, respectively, the full participants have the right to independently allocate funds for necessary needs. When making a deposit, investors receive a certificate stating the amount of the contribution and the basic details of the participant.
At the meeting of the organization's participants,a management team called to perform the functions of an executive body. The partnership on the faith is distinguished by the fact that only full comrades can have the right to vote at such a meeting. That is, only they have the right to make important decisions about the future activities and development of the established enterprise. Usual investors do not in any way concern the activities of full comrades. Even if they do not agree with the decision, it is impossible to challenge it.
The profit remaining at the disposal of the institution,is subject to distribution among investors in proportion to their contributions. However, any activity of a commercial nature is associated with many risks, that is, with the probability of unfavorable circumstances, as a result of which the organization incurs losses. These losses are written off at the expense of the authorized capital and part of the personal property of the full comrades. Investors risk only the amount invested. Thus, the latter, as it were, lend to full comrades, trusting them with money, but not controlling the direction of using the funds.