Unlimited (Full) partnership

Liability exists in an organization when the business as a whole has a legal responsibility to disburse funds in compliance with third party contractual arrangements, court judgments and operating expenses. In general partnerships, the partners are personally liable for the debts of the business. All of the partners in a general partnership have unlimited liability, which means that the partners are equally responsible for the entire debts of the business. A sole proprietorship business is owned by one individual, who is personally responsible for any debts or obligations incurred through the business affairs. Therefore, a sole proprietor possesses unlimited liability.

Full liability for the debt and other obligations of a legal entity. The general partners of a partnership have unlimited liability.

JSC

Joint stock company

• is a legal entity, which makes the emission of shares with the scope to attract the money for executing of its activity

• its participants (shareholders) bear the risk of losses associated with the activities of company within the limits of the shares that belong to them.

• JSC is a public company, legal entity which issues shares to raise funds for carrying out its activities.

• JSC is liable for its obligations to the extent of the value of its property.

• JSC's capital charter consists of its founders' payments for shares at their par value and payments from investors for JSC's shares placed at a securities market.

• The JSC's supreme managing body is the general meeting of shareholders, which It has the exclusive competence of deciding on most vital aspects of JSC's activities

• Other bodies of the JSC are: the supervisory body – the board of directors and the executive body – the general director(s).

JSC’s disadvantages

ž More significant amount of a charter capital

ž More complex corporate structure

ž More complicated state registration procedure

ž Stricter reporting requirements

ž Mandatory requirement of publication of accounts

ž Strict internal regulations to enter into major transactions

ž Longer decision-making procedure

ž Special requirements to the procedure for entering into interested-party transactions.

2. Branches & representation offices

A location, other than the main office, where business is conducted. Most branch offices are comprised of smaller divisions of different aspects of the company such as human resources, marketing, accounting, etc. A representative office is an office established by a company to conduct marketing and other non-transactional operations, generally in a foreign country where a branch office or subsidiary is not warranted. Representative offices are generally easier to establish than a branch or subsidiary, as they are not used for actual "business" (e.g. sales) and therefore there is less incentive for them to be regulated.

Limited liability partnership. (LLP)

LLP is a corporate entity established by one or several individuals or legal entities, whether foreign or local, vested with its separate property, rights and liability.

Participants of LLP are not liable for its obligations and bear the risk of losses associated with the activities of the partnership only to the extent of the amount of their contributions into the LLP's charter capital, except in certain cases.

LLP's charter capital is formed by combining contributions from founders/participants of the LLP

The LLP Law does not set specific requirements as to what management bodies should be established in LLPs apart from requiring LLPs to have (i) the general meeting of participants (or a sole participant) as a supreme body; and (ii) an executive body. The LLP Law allows LLPs to form a supervisory body and/or an audit commission.

LLP is a commercial organization, whose objective is to carry out activities aimed at generation of profit and conducting any types of activities not contrary to the Kazakhstan legislation