A contract by which two or more people invest the capital and divide the profits amongst themselves.

Characteristics

• There can be two types of partner: sleeping partners and working partners.
• The capital is provided by the partners, and these contributions can be in the form of cash, assets or work.
• There is no minimum amount of capital established by law.
• There must be at least two partners.
• The partners have unlimited liability.
• It may or may not have its own legal personality depending on whether its pacts are public or secret.
• In the case pacts are secret, the provisions regarding Jointly Owned Companies will be applicable.
• It can take any of the forms recognised by the Code of Commercial Law, in accordance with its objective.