Research On The System Of American Limited Partnership

Modern business body includes three forms, namely exclusive investment, partnership investment and company. Limited partnership is a kind of partnership consisting of the common partner who shoulder limitless liability and limited partners who shoulder limited liability. In order to meet the demand of rights and duties, common partners have the right to manage and control partners with limited liability while the latter can not do the same to the former. Limited partnership investment is one form of partnership and it is a special kind. In order to ascertain its legal position , the common law system has special law for limited partnership. Limited partnership is a form of organization of the company and it has incomparable advantage over common partnership and companies, which makes it the best choice for risk investment. In China, we do not have systematic legislation concerning the limited partnership till now. Efforts have been made in this paper to elaborate the source of partnership mechanism, the legal development of limited partnership investment in U.S. With all these as a basis and with the value analysis of American system of limited partnership as the most effective form of organization, it is believed that the introduction of American system of limited partnership into China is a definite necessity. The introduction of legal system will make it a must to study further the legal background of the two states and at the same time, the functional analysis of the system will be needed. Via analysis of the compatibility of the relevant systems of the two states, we can put forward legislation advice for the making of civil and business law in China. With the design of relevant system, this particular system can be introduced to China with a better chance for success. The structure of this paper is as follows:Chapter one focuses on the comment of the system of limited partnership.