Gesellschaft mit beschränkter Haftung

Gesellschaft mit beschränkter Haftung (pronounced [gəˈzɛlʃaft mɪt bəˈʃʁɛŋktɐ ˈhaftʊŋ], abbreviated GmbH [geː ʔɛm beː haː], in Austria also GesmbH or Ges.m.b.H.), which is German for "company with limited liability", is a type of legal entity very common in Germany, Austria, Switzerland and Liechtenstein. The name of the GmbH form emphasizes the fact that the owners (Gesellschafter, also known as members) of the entity are not personally liable for the company's debts.GmbHs are considered legal persons under German and Austrian law. Other variations include mbH (used when the term Gesellschaft is part of the company name itself), and gGmbH (gemeinnützige GmbH) for non-profit companies.

The GmbH has become the most common corporation form in Germany, since the AG (Aktiengesellschaft), the other major company form corresponding to a stock corporation, was much more complicated to form and operate until recently.

History

The laws governing this type of legal entity were adopted in Germany in 1892, and in Austria in 1906. The concept of limited liability created by these laws inspired the legal establishment of the limited liability company form in other countries, although the concept of a limited liability company already existed in the United Kingdom.

Mickie Krause

Mickie Krause (born Michael Engles on June 21, 1970), a native of Wettringen, is a singer of German Schlager. His notoriety has exploded in Germany in 1999 with his hit 'Zehn nackte Friseusen' '(Ten nude hairdressers).

Discography

Albums

Singles

Kommanditgesellschaft

A Kommanditgesellschaft (abbreviated "KG", pronounced [kɔmanˈditgəˌzɛlʃaft]) is the German name for a limited partnership business entity and is used in German, Austrian and some other European legal systems.

Partnerships may be formed in the legal forms of General Partnership (Gesellschaft bürgerlichen Rechts, GbR or specialized in trading Offene Handelsgesellschaft, OHG) or Limited Partnership (Kommanditgesellschaft, KG).

In the OHG, all partners are fully liable for the partnership's debts, whereas in the KG there are general partners (Komplementär) with unlimited liability and limited partners (Kommanditisten) whose liability is restricted to their fixed contributions to the partnership. Although a partnership itself is not a legal entity, it may acquire rights and incur liabilities, acquire title to real estate and sue or be sued.

The GmbH & Co. KG is a limited partnership with, typically, the sole general partner being a limited liability company. It can thus combine the advantages of a partnership with those of the limited liability of a corporation.