What is a simple partnership?

What is a simple partnership? If you are thinking of opening a simple company, you need to know that it is a little widespread tool but has great advantages. First of all, the reference code is S.s. with this name, however, you can not carry out any type of activity.

To open with this wording, it must be an agricultural activity, for those who carry out professional activities in association and for those who manage movable or real estate. To make it clear, here’s how you run a simple partnership and whether it is really the right choice.

Simple partenership, how to manage it

Articles 2251 to 2290 of the Civil Code set out how to deal with the administration of a simple partnership. First of all, the company opens with a contract, called the articles of association. In this contract must be indicated the personal data of the members, the kind of business, the assets available and by whom has been provided, how they will share profits, legal and operational headquarters. Finally, there will be rules on appointments and functions. Then the company is registered in the Company Register. The company shall not engage in economic activity or declare bankruptcy.

Among the opening costs there are: notary, tax stamp or registry, accountant, and registration with the Chamber of Commerce, other than what paid by individual members to constitute it. In case of debts, the creditors of the company can claim against the members, but not vice versa.

The activity can be dissolved by the will of all the members, because the limits have expired, for the achievement of the company purpose or if it is impossible to do so, if only a member remains or if some members die and they are not replaced. In these cases, it moves on to liquidation.

Conclusion

The simple partnership is the perfect solution if a group of people has the same business purpose. The gains and losses will be managed equally among the members, or according to what is given by and to the member. To manage disputes in simple partnerships or to set up one, or even to manage it, ask us for a consultation!

Studio Legale Alessandria is available for advice to the contact details in epigraph and through the form that you can fill in the section CONTACTS

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