A partnership is a type of business with at least 02 members who are the joint owners of the company, doing business together under a common name (called partnership members). General partners must be individuals, apart from general partners, the company may have additional partners.
General partners have limited rights to:
Article 175 of the Enterprise Law 2014 stipulates that limited liability partners have some of the following rights:
First, general partners cannot own the private enterprise or general partners of other partnerships, unless otherwise agreed by the remaining general partners.
Because general partners of partnerships are liable for unlimited assets of the partnership, the owner of the private enterprise must also be solely responsible for all of its activities. Therefore, the fact that one general partner has unlimited liability in many companies will directly affect the interests of other general partners. Therefore, the law does not allow an individual to be successful. general partners of two partnerships or general partners may own a private enterprise.
However, with the consent of the remaining general partners, such general partner may still be the owner of the private enterprise or general partner of another partnership. This shows respect for the agreement between the parties of the law.
Second, general partners are not allowed to act on their behalf or on behalf of others to conduct business in the same line of business of that company for self-seeking purposes or serving the interests of other organizations or individuals.
A partnership is established on the basis of the trust and credibility of its members, and the prestige of a partnership associated with a partnership member, so the law has restricted “General partners are not allowed to act on their behalf. individuals or on behalf of others conduct business in the same business line of that company for self-seeking purposes or serving the interests of other organizations or individuals ”to avoid affecting the reputation of the partnership.
Third, general partners are not allowed to transfer part or all of their contributed capital in the company to others without the consent of the remaining general partners.
Because of the nature of a reciprocal person, established on the basis of trust and trust among general partners of the partnership, the transfer of all or part of the contributed capital to the individual by the general partners , other organizations will affect the rights and interests of the remaining general partners, so the law limits the right to transfer a part or the whole of the contributed capital without the consent of the general partners rest.