Partnership or capital company, which to choose?

Partnership or capital companies: what are the differences?
Before setting up a company, you need to define which type of company is closest to your needs , from the point of view of responsibilities and purposes to be achieved, organizational and costs. How to orient oneself in the multitude of possibilities? We asked the lawyer Gianluca Meterangelo from Milan.

“Capital companies are defined as such because in them the element of capital brought into the company prevails over the subjective element represented by the shareholders” explains the lawyer. “These are medium-large companies with an even large number of shareholders . From a formal point of view, they are joint stock companies : the joint-stock company (SpA), the limited liability company (Srl), the simplified limited liability company (Srls) and the limited partnership (Sapa). “

The partnerships instead?

” Partnerships are companies in which the subjective element represented by shareholders with respect to capital is prevalent ” specifies Avv. Meterangelo. “They are generally small companies , characterized by a limited number of members. There are three types of partnerships: the simple company (Ss), the collective name company (Snc) and the limited partnerships (Sas). How do corporations work? “The capital company operates through three bodies :

The Shareholders’ Meeting with competence to deliberate on the internal organization and on the most important issues of the company. Directors (board of directors or sole director) with management duties.The statutory auditors who control and supervise the activities of the directors “. A minimum capital that varies according to the type of company is required to set up a capital company. Capital companies have perfect asset autonomy , which means that the liability for the company’s debts is limited to its assets and the shareholders are only liable for the amounts paid.

The partnerships instead?
” Partnerships are companies organized according to the person of the partners , who normally take care of their organization and management, lending their work to them” continues the lawyer. “These companies have no legal personality distinct from the person of the shareholders and have imperfect patrimonial autonomy , which means that the liability of the partners for the company’s debts is unlimited and jointly and severally .