Professional partnership (PartG)
The professional partnership is a special legal form for freelancers (e.g. psychotherapists, lawyers, corporate consultants). No minimum capital is required. The professional partnership is liable to the extent of the partnership’s assets and the partners’ personal fortunes. The special feature of the professional partnership: only the acting partner is liable for errors in the practice of the profession.
The partnership agreement must be concluded in writing. The PartG must be entered in the Partnership Register at the local court.
Advantages
No minimum capital required, special form of limited liability.
Disadvantages
Partners may be liable to the full extent of their personal fortunes.
Legal basis
Act on Partnership Companies of Members of Independent Professions
The professional partnership is a special legal form for freelancers (e.g. psychotherapists, lawyers, corporate consultants). No minimum capital is required. The professional partnership is liable to the extent of the partnership’s assets and the partners’ personal fortunes. The special feature of the professional partnership: only the acting partner is liable for errors in the practice of the profession.
The partnership agreement must be concluded in writing. The PartG must be entered in the Partnership Register at the local court.
Advantages
No minimum capital required, special form of limited liability.
Disadvantages
Partners may be liable to the full extent of their personal fortunes.
Legal basis
Act on Partnership Companies of Members of Independent Professions