The Study On The Legal System Of Limited Partnership Private Equity Fund

From a global perspective,private equity funds are mainly in three types of organizational forms:corporation,contract,limited partnership.Limited partnership in which private equity funds for the production of the most popular forms of organization,the United States more than 80%of private equity funds have been taken this form.In China,promulgated in 1997,"Partnership Law" does not recognize the "limited partnership" that forms of organization,to some extent,this constrains the local development of private equity funds.Until August 27,2006,China's newly revised "Partnership Law" was a clear recognition of the limited partnership form of the legitimacy of the organization of the limited partnership private equity fund to give a legal and normative support.However,the domestic equity market,after all, the starting time is not long,the inexperience of legal practice,limited partnership private equity funds in the development process is also faced with many problems.So how to further improve the limited partnership private equity fund of the legal environment for private equity fund local development.In this paper,from a legal point of view of private equity limited partnership of the Development Fund,the legal characteristics,institutional strengths,as well as Britain and the United States limited partnership private equity fund of the legal system,an analysis of current limited partnership private equity funds that exist in the development of The main issue in the light of the successful experience of the United States on the basis of a limited partnership to improve China's private equity funds related to the legal system response.Besides the introduction,postscript,there are four major sections in this context.The first part,limited partnership private equity fund outlined.The first part of a private equity fund to define the concept of private equity funds and industrial investment funds,venture capital funds to carry out the distinction.And reveals the private equity fund in deepening financial reform and innovation,and boost integration of the domestic industry,improve the ability of independent innovation of great role;Secondly,a limited partnership of private equity funds and legal status of the development of character,again,from the operating costs,incentive and restraint mechanisms,such as operational efficiency point of view,demonstrates the limited partnership private equity fund because the international mainstream as a model system has the great advantage.The second part,limited partnership private equity fund study abroad,the legal system.In view of the United States is the world's private equity fund of the most developed countries,I focus on the United States Review of private equity limited partnership funds the development and status of the relevant legal system,while an analysis of the UK limited partnership for the development of private equity funds and their legal system.And in the comparative study of Anglo-American legal system, based on the author summed up the experience of Anglo-American Enlightenment.The third part,our limited partnership private equity fund the legal system and problems of the status quo.The first part of the macro level of our limited partnership private equity fund made a study of the legislative status quo.And then analyzes the limited partnership private equity fund in the "Partnership Enterprise Law," the legislation,taxation,financing channels,from the channels,personnel,intermediaries and credit problems and so on.Partâ…£,our limited partnership private equity fund to improve the legal system. Because of limited partnership private equity fund in practice face many legal obstacles,therefore,how to improve the relevant legal system is to promote local private equity limited partnership funds the development of a key link.Based on this, this article summing up the successful experience of the United States on the basis of the principal from the "Partnership Enterprise Law" itself,the tax provisions, financing channels,channels from the credit system has been put forward proposals to improve the law.