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Lebanese Business Associations

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Submitted By samiashi
Words 1386
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Business Establishment
Definition:
Business Establishment is an incorporated business consisting of one person who owns and completely controls the business. It does not have any legal personality and its owner is unlimitedly personally liable regarding the BE debts. BE does not require any capital for registration purposes.
Elements of a BE is formed by 1) Corporeal elements * Business equipment * Goods
2) Incorporeal elements * Location * Customers * Trade name * Lease rights * Trademarks * Copyrights * Licenses
Contracts over BE: * Sale * Chattel mortgage * Unlimited management * Contributing in a corporation or partnership
Termination of BE: * In case of the merchant bankruptcy * In case the merchant decides to close the BE * In case the merchant loses his cliental (customers) * Business Concern is not a legal entity. * Business Concern has legal existence. * A business concern cannot exist without business venture; however, a business venture (commercial activities) can exist without a business concern (such as peddler) * The commercial obligations are registration and maintaining commercial books. * Each owner of a business concern is considered by the law a merchant.

Unlimited Partnership
Definition:
The Commercial Code’s definition (article 46) of an unlimited partnership is an association of people. This partnership is formed by two or more people (general/active partners) who are jointly and severally responsible of the company’s debt and which operate under a collective name. UP has a legal personality that represents all the partners. Liability of partners in such UP is unlimited severally and jointly regardless the contribution of the partners themselves. Partners are personally liable regarding the UP debts. UP does not

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