Business Law Deneme Sınavı Sorusu #956226
What is a key difference between a commercial company and an ordinary partnership?
There is not key any difference, the concepts are interchangeable. |
A commercial company has legal personality while an ordinary partnership does not have legal personality. |
During the operation of an ordinary partnership the statutory meetings, changes in the shareholders need to be notified with the relevant authorities while in a commercial company this is not obligatory. |
In a partnership only the authorized organs have the right for representation while in a company all the company shareholders have the right to represent the company. |
There are no formal requirements for the establishment of a commercial company but there are statutory requirements in the case of the establishment of an ordinary partnership. |
A commercial company has legal personality while an ordinary partnership does not have legal personality.Besides, in the case of an ordinary partnership there are no formal requirements for its establishment but there are statutory requirements in the case of the establishment of a commercial company.
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