GmbB

GmbB is a German abbreviation standing for "Gesellschaft mit beschränkter Berufshaftpflicht". This translates to "Company with limited professional liability". It is a legal form specifically designed for certain liberal professions in Germany, such as lawyers, doctors, architects, and tax advisors.

The primary characteristic of a GmbB is that it combines elements of a partnership (like a GmbH or AG) with the unlimited personal liability of the individual partners for professional errors. While the company itself has limited liability for general business debts, the partners remain personally responsible for any damages arising from their professional conduct or negligence. This differs from a standard GmbH where the liability of the shareholders is generally limited to their capital contributions.

The GmbB structure aims to provide a corporate framework for professional practices while maintaining the traditional emphasis on personal accountability for professional services. This legal form is regulated by specific professional codes and company law provisions in Germany. It allows for the pooling of resources and expertise within a structured entity, while the partners retain their direct professional responsibility. The distinction is crucial for clients and the public, as it clarifies the extent of liability in cases of professional misconduct.