• ABC of a limited liability company

    A limited liability company is a capital company, the legal basis for its functioning are specified in chapter I title III (article 151- 300) of the Act of 15 September 2000 Commercial Companies Act (Journal of Laws No. 94 item 1037 of 2000 year, as amended). There are a lot of entities functioning in form of limited liability companies in the economic turnover. It results from the fact, that partners of such company are not responsible for the company's liabilities (article 151 of the Commercial Companies Code), what provides them the ability to separate the risk related to the business they are into from the private assets of the partners.