THE COMPARISON OF BUSINESS PARTNERSHIPS AND COMPANIES, FULL PARTNERSHIP, LIMITED PARTNERSHIP AND COOPERATIVES This section of report identifies the differences between Business Partnerships and Companies, Full Partnership, Limited Partnership and Cooperatives. The detailed analysis has been proposed based on Articles 72-94 and 117-121 of the Civil Code of the Republic of Armenia. The Table 10 compares the Business Partnerships and Companies, Full Partnership, Limited Partnership and Cooperatives. Table 10. The comparison of Business Partnerships and Companies, Full Partnership, Limited Partnership and Cooperatives Business Full partnership limited partnership cooperatives partnerships and companies Article 77. Article 90. Article 117. A cooperative is a Article 72. 1. A full 1. A limited partnership voluntary amalgamation based on Business partnership is one, is a partnership in the membership of citizens and partnerships and where participants which, along with legal persons and is intended to companies are (general partners), participants conducting satisfy the financial and other needs commercial in accordance entrepreneurial activity of the participants. organizations with the charter in the name of the with charter or are conducting partnership and being The property of a cooperative is contributed entrepreneurial liable for the based on the combined property capital, which activity in the obligations of the and participatory share encompasses the name of the partnership with their contributions made by members. ownership shares partnership and property (general of the founders or bear liability for partners), there are one participants. In its obligations or more cases stipulated with the property (limited by the present belonging to partners), who bear the Code, a business them. risk of losses connected company may be 2. A person may with the activity of the created by one be a participant in partnership within the person. only one full limits of the amounts of partnership. contributions made by The property of them and do not take business part in the conduct by partnership and the partnership of
THE COMPARISON OF BUSINESS PARTNERSHIPS AND COMPANIES, FULL PARTNERSHIP, LIMITED PARTNERSHIP AND COOPERATIVES This section of report identifies the differences between Business Partnerships and Companies, Full Partnership, Limited Partnership and Cooperatives. The detailed analysis has been proposed based on Articles 72-94 and 117-121 of the Civil Code of the Republic of Armenia. The Table 10 compares the Business Partnerships and Companies, Full Partnership, Limited Partnership and Cooperatives. Table 10. The comparison of Business Partnerships and Companies, Full Partnership, Limited Partnership and Cooperatives Business partnerships and companies Full partnership limited partnership cooperatives Article 72. Business partnerships and companies are commercial organizations with charter or contributed capital, which encompasses the ownership shares of the founders or participants. In cases stipulated by the present Code, a business company may be created by one person. The property of business partnership and Article 77. 1. A full partnership is one, where participants (general partners), in accordance with the charter are conducting entrepreneurial activity in the name of the partnership and bear liability for its obligations with the property belonging to them. 2. A person may be a participant in only one full partnership. Article 90. 1. A limited partnership is a partnership in which, along with participants conducting entrepreneurial activity in the name of the partnership and being liable for the obligations of the partnership with their property (general partners), there are one or more (limited partners), who bear the risk of losses connected with the activity of the partnership within the limits of the amounts of contributions made by them and do not take part in the conduct by the partnership of Article 117. A cooperative is a voluntary amalgamation based on the membership of citizens and legal persons and is intended to satisfy the financial and other needs of the participants. The property of a cooperative is based on the combined property and participatory share contributions made by members.
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