Is there an unlimited liability company in China and why there is no unlimited liability company in

In China, there is no unlimited liability company, and the company that bears unlimited liability for civil debts includes one-person ****, partnerships, sole proprietorships, etc.

An unlimited liability company is a form of company formed by two or more shareholders who are jointly and severally liable for the company's debts. Also known as an unlimited company. For the most typical people in the company. It must consist of more than two shareholders and the shareholders must be natural persons.

Shareholders are jointly and severally liable for the company's debts, that is, shareholders must use the capital contribution property and other property other than the capital contribution property as a guarantee to pay off the company's debts, and when all the company's property is insufficient to pay off the company's debts, the creditor has the right to require the company's shareholders to pay off with their personal property for the unpaid part, and the liability between shareholders is joint and several.

Shareholders who repay the company's debts in excess of their own liabilities have the right to recover from other shareholders of the company, and in this way, these shareholders become new creditors.

Under the newly promulgated Companies Act, there is no such thing as an "unlimited liability company".

Founded in 1951 by the People's Republic of China and the Republic of Poland, Sino-Polish Shipping Co., Ltd. is also the first Sino-foreign joint venture in New China.

Company name. Sino-Polish Steamship Joint Stock Company.

Founded. 1951 year.

Scope of business. Ocean Shipping.

Nature of the company. Sino-foreign joint ventures.

This is because the Company Law stipulates that all companies in China are limited liability companies.

An unlimited liability company, also known as an unlimited company, is composed of two or more shareholders, and the shareholders are jointly and severally liable for the company's debts, that is, the shareholders must use the capital contribution property and other property other than the capital contribution property as a guarantee to pay off the company's debts, and when all the company's assets are insufficient to pay off the company's debts, the creditor has the right to require the company's shareholders to pay off with their personal property for the unpaid part.

An unlimited liability company is a small form of common enterprise based on the mutual trust of its members, which is characterized by relatively simple organizational procedures and does not require a minimum total capital; The company's operation is directly related to all the property interests of each company; Therefore, the shareholders will work together to operate, and the shareholders have a close relationship; The company has high credit and strong competitiveness.

Advantages of limited liability company: unlimited company is conducive to the combination of finance and talent, that is, it is conducive to the combination of people with more wealth and less wisdom and people with less wealth and more wisdom to jointly form a company and achieve good business results. Since the unlimited company is jointly and severally liable and has unlimited liability, the company's credit degree is high, and the economic interests of creditors can be protected.

Disadvantages of a limited liability company: The risk to shareholders is too great, and once the company goes bankrupt, it is likely to bankrupt the shareholders due to joint and several unlimited liquidity. It is difficult to transfer the share capital, because the shareholders of the unlimited company have joint and several unlimited liability, then, who to cooperate with is a matter involving the vital interests of each company, and the shareholders must obtain the consent of all shareholders if they want to transfer their share capital, so it is more difficult to transfer the share capital of the unlimited company.

There is no unlimited liability company in China. Companies with unlimited liability for civil debts include one-person enterprises, partnerships, sole proprietorships, etc.

Legal basis: Article 2 of the Company Law of the People's Republic of China The term "company" in this law refers to a limited liability company and shares established in China in accordance with this law.

Article 2 of the Company Law of the People's Republic of China The term "company" in this law refers to a limited liability company and shares established in China in accordance with this law.

Therefore, the company referred to in China's "Company Law" has its specific scope of application:

First, BEGAR is a company established in China in accordance with the Company Law in accordance with the principle of territorialism;

Second, the organizational form is limited to limited liability companies and shares, and the legislation does not stipulate the organizational form of other companies, and in practice they are not allowed to be established.

In China, there is no company with unlimited liability, and companies that bear unlimited liability for civil debts include one-person enterprises, partnerships, sole proprietorships, etc. An unlimited liability company is composed of more than two shareholders, and the shareholders are jointly and severally liable for the company's debts, also known as the unlimited company, which is the most typical joint company, which must be composed of more than two shareholders, and the shareholders must be natural persons.

Article 2 of the Company Law of the People's Republic of China The term "company" in this law refers to a limited liability company and shares established in China in accordance with this law.

Businesses with unlimited liability include partnerships, sole proprietorships, etc. However, there is no unlimited liability company in China, and there are two types of companies in China, limited liability companies and shares, and their shareholders bear limited liability.

Company Law of the People's Republic of China

Article 3. The company is a legal person of the enterprise, has independent legal person property, and enjoys the property rights of legal person. The company is liable for the debts of the company with all its property. The shareholders of a limited liability company are liable to the company to the extent of their subscribed capital contributions;

The shareholders of the shares are limited to the shares they subscribe for, and they are liable to the company.

Partnership Enterprise Law of the People's Republic of China

Article 2. "Partnership enterprises" as used in this Law refers to general partnerships and limited partnerships established by natural persons, legal persons and other organizations within the territory of China in accordance with this Law. A general partnership is formed by general partners, who are jointly and severally liable for the debts of the partnership.

Where this Law has special provisions on the form of liability of the general partner, follow those provisions. A limited partnership consists of a general partner and a limited partner, with the general partner jointly and severally liable for the debts of the partnership, and the limited partner liable for the debts of the partnership to the extent of their subscribed capital contributions.

Legal analysis: The limited liability of the company is actually the limited liability of the shareholders of the company, and the early surplus borne by the company itself is unlimited liability. The company is liable to the outside world with all its assets, and even if the company's assets are insufficient to bear the external debts, the shareholders cannot be required to bear them, which is the true meaning of the company's limited liability.

China's company law stipulates that only **** and joint-stock companies, two types of companies, shareholders are limited to the amount of subscribed capital contributions, and there is no unlimited liability company in China. There is a sole proprietorship in the land roll that involves unlimited liability, and the general partner in the company also bears unlimited liability.

Legal basis: Company Law of the People's Republic of China Article 3 The company is an enterprise legal person, has independent legal person property, and enjoys the property rights of legal person. The company is liable for the debts of the company with all its property.

The shareholders of a limited liability company are liable to the company to the extent of their subscribed capital contributions; The shareholders of the shares are liable to the company to the extent of the shares they subscribe.