The expansion of limited liability
Lei Duan
Abstract
Lei Duan
Abstract
The traditional legal science always maintains that main difference between juridical person and partnership consists in responsibility form.But in recent years,limited liability has been expanding and entering into traditional area of unlimited liability-partnership.Because concept of limited liability is combination of no liability of shareholders and unlimited liability of juridical person,and limited liability are called the greatest invention of modern society for its significant functions.Meanwhile,partnership as main direction of limited liability's expansion needs limited liability.Obviously,the expansion of limited liability is correct and inevitable.
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The traditional legal science always maintains that main difference between juridical person and partnership consists in responsibility form.But in recent years,limited liability has been expanding and entering into traditional area of unlimited liability-partnership.Because concept of limited liability is combination of no liability of shareholders and unlimited liability of juridical person,and limited liability are called the greatest invention of modern society for its significant functions.Meanwhile,partnership as main direction of limited liability's expansion needs limited liability.Obviously,the expansion of limited liability is correct and inevitable.
Key concepts: Limited liability partnership, Liability, General partnership, Strict liability, Limited liability, Business, Shareholder, Legal liability