Trading companies are divided into two basic types, namely personal and capital companies. Personal companies include a public company and a limited partnership. Capital companies include a limited liability company and a joint stock company.
Personal companies are characterized by the following features:
- the partners are liable for the company's obligations without limitation, with all their assets,
- in the case of companies, the registered capital is not created,
- personal participation of shareholders in the company's business,
- statutory bodies are not mandatory;
- the termination of the participation of the shareholders in the company may cause its termination.
Capital companies are characterized by:
- partners are not liable for the company's liabilities at all or only to a limited extent,
- the foundation capital is created,
- shareholders are not obliged to personally participate in the company's business,
- statutory bodies of the company and, if necessary, other bodies are created,
- a change in the person's partner is possible
There are views that a limited liability company as well as a limited partnership is a mixed company.