ENTREPRENEUR is a natural person with business performing capacity who performs business activities in order to acquire profit, registered as such in accordance with the Law on registration. For all of the commitments in performing activities the entrepreneur is held accountable by means of his/her entire estate which includes the property and assets acquired in connection with the activities.
PARTNERSHIP COMPANY is a company formed by two or more partners with unlimited joint and several liability for all the commitments of the company by means of their entire estate.
LIMITED PARTNERSHIP COMPANY is a business company formed by at least two members, out of which at least one member has unlimited joint and several liability for the commitments of the company (the general partner (“komplementar”)), and at least one member has liability to a limited extent for the amount of its original investment in the partnership (the limited partner (“komanditor)).
LIMITED LIABILITY COMPANY is a company in which one or more members of the company have a share in the fixed company’s capital, provided that members of the company are not liable for the company’s commitments, except as provided in the Article 18 and Article 548 of the Company Law.
JOINT STOCK COMPANY a company whose equity capital is divided into shares of one or more shareholders who are not liable for the commitments of the company, except as provided in the Article 18 and Article 548 of the Company Law.