Transforming a sole proprietorship into another business form can be an essential step for growth, better alignment with the business’s development, or compliance with legal requirements. This article outlines the different types of business transformation available for sole proprietors, including the necessary conditions, procedures, and documentation for each transformation. 1. What is a Sole Proprietorship? […]
In a partnership , there are two primary types of members: general partners and limited partners. While both play essential roles in the business, they differ significantly in terms of responsibilities, rights, and liabilities. This article compares and contrasts the two types of members to highlight their unique features. 1. What is a General Partner? […]
A partnership company in Vietnam is a business entity where at least two individuals contribute capital and share joint, unlimited liability for the company’s obligations. This structure, governed by the 2020 Enterprise Law, involves two types of partners: general partners, who bear unlimited liability and manage the company, and capital contributors, who have limited liability […]