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  • 16-06-2020

The Code of Companies and Associations (CCA) abolished the joint venture (société momentanée/tijdelijke vennootschap) and the silent partnership (société interne/stille vennootschap) as distinct corporate forms. The only recognised corporate form without legal personality is now the ordinary (or general) partnership (maatschap/société simple).

A general partnership is a contract between two or more partners concluded for the purpose of running a business for profit. The partners are jointly liable for debts and obligations incurred by the partnership. A general partnership may be set up to accomplish a specific project; in this case, the partnership automatically ends when the project is finished. It is furthermore possible to involve one or more silent partners, whose liability may not exceed the value of their contributions to the partnership. 

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