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Limited partnership
Limited partnership is a partnership running activity under own name, in which the liability of at least one partner (called general partner) is unlimited, while the liability of other partner or partners (called limited partners) is limited to his contribution.
The agreement of limited partnership should be done in writing and notarized, then – registered in National Court Register.
Once it is registered, it is officialy established.
There is no minimum start-up capital.
The name of limited partnership should include surname of one or more partners and additional caption “spolka komandytowa”.
In a day-to-day activity it is possible to use abbreviation “sp.k.”.
If the general partner is a legal person, the name of the limited partnership should include full name of the legal person with additional caption “spolka komandytowa”.
It does not exlude possibility to use name of general partner who is an individual.
The name of the limited partner cannot be included in the name of the limited partnership.
In case the name of limited partner is included, he is assumes the liability just like the general partner.
The limited partner assumes the liability for partnership’ obligations only to the amount of contribution.
The liability of general partner or partners is unlimited , they are responsible for partnership’s obligations with their whole property.
The partnership is represented by general partners, who were no deprived of such right in the agreement or by court.
The limited partner may represent the partnership only as a proxy.
If he takes any legal action on behalf of the partnership.
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