A limited partnership

A limited partnership is a company, where one of owners is responsible fully for debt and one of owner’s responsibility is limited. This form of economic activity may be beneficial when some of the owners want to invest money and get profits while the others take full responsibility by undertaking a company and being its representatives. This form of economic activity is said to be for owners with different capital potential. It is excellent form of business for people who ones have idea and others capital.

To establish this form of activity it is necessary to:
1. Compose an agreement in the form of a notary act,
2. Apply to a registered court,
3. Register a company in a registered court.

Advantages:
• Capability of forming liability for management left accomplice and obligations of companies,
• There is a limited financial responsibility of an owner up to its financial input,
• Limited responsibility to conduct economic activity of an owner who only has input finance,
• There is a possibility to conduct economic activity at a bigger scale,
• Non specified amount of financial input,
• There is a possibility to make non financial contribution.

Disadvantages:
• Full liability for obligations of a company’s owners,
• Cost of a notary act,
• According to principles of act about accountancy there are requirements of conducting full accounting.