Study Of A Limited Partnership Legal System

The system of limited partnership originated from commercial partnership-Commenda along the Mediterranean in the Middle Age. As one of the modes of operation, the limited partnership developed with the development of commodity economy. The limited partnership has been regulated both in the countries of continental law system talking the case law as the dominant form. Among these countries, the limited partnership has been regulated in the special chapter in the commercial code of Germany while the special law of limited partnership has been made out in Anglo-American countries.Limited partnership has been testified to be the most effective business form of venture investment. With the development of social economy, venture investment is playing more and more important role in the aspects of accelerating transfer the fruit of scientific research, helping the growth of innovational enterprises, promoting the development of both economy and technology and so on. In the U.S.A., most venture investment organizations prefer limited partnership and have achieved great success. In the present law of China, there is no regulation about this system. However, to meet the demands of the judicial practice and the economic development, the research in the limited partnership should be strengthened greatly. With the fast development of venture investment in China in recent years, more and more people appeal for enacting a limited partnership act in our country. Actually in some provinces and cities the local governments have set some rules to regulate limited partnership. The development of our socialist market economy requires a diverse system of commercial subjects. To establish limited partnership institution as early as possibly will not only meet the needs to strengthen the legal system of commercial subjects but also accelerate the development of our socialist market economy. At the same time, the rules of national treatment and non-discrimination being adopted to the foreign businesses require us establish the relatively legislative system on business forms as soon as possible after China joins the World Trade Organization.In Chapter One, the author first of all introduces the concept and the characteristics of limited partnership, and then analyses its historical function and evolution process through ascending the origin and development of limited partnership. The last part of the first chapterillustrates the legislative situation of limited partnership in such western countries as the United States, the UK, France and Germany. The second chapter sums up institutional advantages of limited partnership by comparing it with several other business forms like general partnership and corporation and so on. The third chapter dwells on basic system of limited partnership .On the basis of the characteristics of limited partnership and the present economic situation of our country, Chapter Three demonstrates the necessity and feasibility of establishing limited partnership system in China. Afterwards, the author brings up some concrete suggestions about the legislative principles and framework of the Limited Partnership Act of our country.This study mainly adopts the research methods of history, compare, dialectic, and so on. It observes and studies the limited partnership from the view of history and legislation examples and has this study based on comparison. Based on our reality, through observing the value of limited partnership, the paper discusses the importance of constitute limited partnership and then brings forward some legal advices on limited partnership. This study has the following aspects of characteristics and creativeness: First, this thesis analyzes the legal and social value of limited partnership by compare it with correlative systems. Second, this thesis pays attention to the most up-to-date dynamic information. It introduces the present circumstances about venture investment arising in out country. Third, this thesis consults to the experiences on legislature of limited partnership in other countries, and gives some advises on legislature of limited partnership in out country.