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COMPANY LAW (Core structural characteristics (Transfarable shares (Permits…

- - - - Each of the partners contribute with money, property, labor or skill :money_with_wings: :house_buildings: :hammer_and_wrench:
      - Each of them shares profits and losses of the company :arrow_up: :moneybag: : :arrow_down: :handshake:
      - It is an agreement implied between two or more people who join together to carry on a business ventures for profit :couple: :handshake:
    - - They have to file a certificate of limited partnership with state authorities :file_folder: :statue_of_liberty: :male-judge::skin-tone-2:
      - It limits the personal liability of individual partners for the business's debts according to the money invested :bank: :red_cross: :moneybag:
- - - - Capable of entering into contracts and owning property
      - Capable of delagating authority to agents
      - Capable of suing and being sued in its own way
  - - - Creditors have contractual claims on the corporation
  - - - Decisions required unanimity
      - Business corporation distinguished by a governance structure to board of directors
        
        Separated from the operational managers of the corporation
        
        It is selected at least by the firms shareholders
        
        Distinct from the shareholders
        
        Has multiple members