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Corporate Service - China

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Q&A Regarding Partnership Enterprise (2)

Answer
Q:
What should be included in the partnership agreement?
A:
The partnership agreement shall specify the following items:
  1. The name and the location main business premises of the partnership enterprise;
  2. The purpose and business scope of partnership;
  3. The name and domicile of the partners;
  4. The method, amount and payment period of capital contribution of partners;
  5. The method of profit distribution and loss sharing;
  6. The execution of partnership affairs;
  7. Joining and quitting the partnership;
  8. Dispute settlement method;
  9. Dissolution and liquidation of partnership enterprises;
  10. Liability for breach of contract.

Q:
What are the requirements for the name of the partnership enterprise?
A:
The name of a partnership enterprise generally consists of four parts in turn: administrative division+trade name+industry characteristics+organizational form. The organizational form in the name should be marked with the words "general partnership", "special general partnership" and "limited partnership".

Q:
What are the registration items of the partnership enterprise?
A:
The registration items of a partnership enterprise include: enterprise name, enterprise type, business scope, main business place, capital contribution, name of the executive partner, name and domicile of the partner, and the way of assuming responsibilities. If the executive partner is incorporation or other organization, the registration items shall also include the name of its appointed representative.

Q:
How long does it take to establish a partnership enterprise?
A: The partnership enterprise registration application materials are complete and conform to the statutory form, and the registration authority shall register on the spot and issue a business license. In addition to the above circumstances, the registration authority shall decide on whether to register or not within 20 days from the date of accepting the application. If it is registered, a business license shall be issued; If it is not registered, it shall give a written reply and explain the reasons.

Q:
How to determine the establishment date of the partnership enterprise?
A: The date when the business license of the partnership enterprise is issued shall be the date when the partnership enterprise is established.

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