Overview
A simple partnership is a basic form of partnership under Swiss law, defined by a contract where two or more individuals agree to pool their efforts or resources for a common goal.
Key Features
- Flexibility: Simple partnerships are often temporary and used for specific projects.
- No Legal Personality: They lack a separate legal entity, meaning they cannot be represented under a company name.
- Liability: Partners are jointly and severally liable for the obligations of the partnership, without limit.
- Formation: No formal requirements or registration is needed to establish a simple partnership.
Considerations for Potential Clients
- Management and Governance: It is advisable to draft a comprehensive contract detailing the management, contributions, and profit distribution.
- Risk Assessment: Understand the implications of unlimited liability and joint obligations.
Why Choose a Simple Partnership?
- Easy Setup: Ideal for short-term projects with minimal bureaucratic hurdles.
- Cost-Effective: No registration fees and minimal administrative burden.
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