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STARTING A BUSINESS |
Collective Enterprise 1. A collective company is established with at least two partners. 2. Partners in a collective company may only be real persons. 3. The shareholders of the company have a second degree of unlimited liability to the company's creditors. 4. Each of the members of the company has the right and obligation to manage the company separately. However, management duties may be assigned to one, more than one or all partners by the company's contract or by majority decision of the partners. 5. There are no capital requirements for collective companies. |
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