General Partnership Company
A General Partnership is one of the oldest and simplest forms of business. It is based on mutual trust between partners and grants them considerable freedom to organize their business and make decisions . In this type of business, partners are jointly liable for the company's obligations , highlighting the importance of carefully and clearly drafting internal agreements to protect everyone's rights and ensure business continuity.
At Issa Haddad & Co, we help our clients establish and organize partnerships in accordance with Jordanian law, ensuring clarity between partners and providing legal protection against any future disputes.
What is a General Partnership?
A general partnership is a legal form of business consisting of two or more partners who cooperate to manage a joint venture. They are jointly and severally liable for all the company's obligations and debts , meaning that each partner is liable for the entire company's debts and not just for their share in it.
Advantages of a General Partnership Company
Flexibility in making decisions and distributing profits among partners.
Personal and humane nature makes it suitable for small and family businesses.
Ease of establishment and management compared to other forms of businesses.
Trust in the relationship between partners as they are all jointly responsible.
Our legal services in the field of General Partnership Companies
At Issa Haddad & Co, we offer a comprehensive package of legal services that include:
Ongoing legal consultations in company management and resolving disputes between partners.
Officially register the company with the relevant authorities.
Drafting the articles of association and clearly defining the rights and obligations of each partner.
Amending the company contract when a partner joins or leaves in a way that maintains the balance of the contractual relationship.
Converting or liquidating the company when necessary, in accordance with sound legal procedures.
Why hire a lawyer when establishing a General Partnership Company?
Because the relationship between partners is inherently sensitive, any ambiguity in the articles of association could lead to legal disputes that impact the company's continuity. By consulting with a specialized legal team, you ensure:
Avoid legal loopholes that may be exploited by others or cause internal problems.
Organizing the relationship between partners on clear foundations.
Protecting your legal interests from day one.
Why choose Issa Haddad & Co?
Accurate and clear drafting of corporate contracts ensures balance and transparency.
A professional approach that protects your interests and enhances your business partnership with confidence.
Specialized experience in commercial and corporate law.
Continuous legal support after incorporation to avoid any future problems.
If you are considering establishing a partnership or are a partner and need legal support , contact us to help you build a secure and stable partnership based on solid legal foundations.