On The Limited Partnership System

The Limited Partnership originated from the business mechanism of Commenda in mediaeval Europe. After centuries of development, it has been implemented and become more mature in lots of countries, especially in the U.S.A. As to our country, the Limited Partnership has just been put into force in the year of 2007 for the reason that this system would have great influence on the venture investment and privately raised fund and accelerate the development of the whole economy to some extent. Because it was just introduced and implemented in China, there must be many issues to be tested by practice and some relevant terms to be further studied and improved by scholars.Author applies several means, such as historical inspection, comparative analysis and dialectics, to lucubrate the Limited Partnership's concept, origin, legal characteristics and its specific advantages in comparison to other systems. Based on that, author analyzes the issues existed in current legislation in China, and brings forward his own thoughts and advice.This thesis includes four chapters as follows:Chapter One is about general description of the Limited Partnership. In this part, author defines the Limited Partnership by comparing several countries'correlative legislation to conclude their common nature and educes its legal characteristics after the introduction and analysis of its origin, advantage and applicable scope.Chapter Two is about the comparison of the Limited Partnership. In this part, author discusses its characteristics by comparing correlative legal systems as well as by comparing respective legislation in countries around the world, analyzes their sameness and differences to make a deep impression to the concept of LP and its characteristics. Author intends to set up a basis for further discussion through the introduction and analysis of this part.Chapter Three is about the establishment of the Limited Liability in our country and its relevant legislation reasons and background. In this part, firstly, author has a deep discussion on the reasons of introducing this system into China and the current legislation in China and puts forward his opinions in the view of practice. Secondly, as to some disputed term in the current system, author studies and discusses the rationality of those terms by analyzing the reason of legislation.Chapter Four is about the issues existed in our country's Limited Liability system and its improvement. In this part, author works over the issues which the current legislation has not covered or not clearly defined. Learning from the successful experiences of the developed countries, author gives his suggestions on how to build the Limited Liability system in China, combined with our country's reality, in expectation of being somewhat beneficial to our country's future practice.