Business Law Deneme Sınavı Sorusu #978325
What is the main difference between a collective company and a commandite company?
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Shareholders at a collective company have unlimited liability towards the creditors of the company but at a commandite company at least one of the shareholders has unlimited liability and at least one other shareholder has limited liability. |
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A collective company is established by at least two individuals as partners but a commandite company is established by at least 5 individuals as partners. |
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In a collective company shareholders can be either individuals or legal entities, but in a commandite company shareholders can only be legal entities. |
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There is a minimum capital requirement for shareholders in a collective company but there is not a minimum capital requirement for shareholders in a commandite company. |
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In a collective company a shareholder cannot transfer his/her shares without the consent of the other partners but in a commandite company the shareholders can transfer these shares like the shares in joint stock corporation. |
Pursuant to Article 304 TCC, a commandite company is a company which is established to operate a commercial enterprise under a trade name, where the liability of one or more shareholders are not limited against the creditors and where the liability of others is limited with the capital subscribed. According to Article 211 TCC, a collective company is a type of company which can be established only by persons (individuals) for the purposes of operating a commercial enterprise under a commercial title. Shareholders’ liability is joint and unlimited with all their property and this principle is an obligatory rule which the parties cannot agree otherwise.
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