Companies of persons
Definition: These are the legal forms that depend on their creation and presence on the personal standard of their founders.
Legal forms: 1- Simple Recommendation Company
2. Solidarity Company
Simple Recommendation Company: Is the first form of legal form of companies of persons and arises with the participation of two or more people, one or some of whom are solidarity partners and others are recommended partners.
Solidarity Company: It is the second form of legal form of companies of persons and is established with the participation of two or more people, all of which are solidarity partners.
Solidarity Partners: They are partners who stand in solidarity and ensure among themselves that the company's financial obligations are fulfilled even from their personal funds, which were not part of the company's funds.
Recommended partners: They are the partners who co-found the company with a amount of money and are committed to fulfilling the company's financial obligations within this amount only without their personal funds, which were not part of the company's funds.
By
MR. Mahmoud Ibrahim
Senior legal advisor