Before you start establishing your company, you must know the essential differences between people companies and money companies, so that you know how to make a sound decision before you start the legal form of your company,,,
The most important and fundamental difference between them in the responsibility and obligations to others,,,
In the sense that companies of persons, and here we are talking about joint partners, not limited ones, and the general partner here will be responsible for his personal money, meaning if the company has a capital, for example, of 100 thousand pounds, and it has financial obligations towards others, or God forbid the company has debts above 100 thousand, and the company does not know You pay here, the joint partner will be responsible for his personal money, and any property in his name will be exposed to danger in the event that the company has debts..
As for the capital companies, each partner is responsible to the extent of his share only for the obligations and debts of the company, completely far from the personal funds.
This is the first fundamental and important difference between people and money companies
