ühisvormina

Ühisvormina is a term used in Estonian law to describe a legal entity formed by two or more legal entities or individuals. It is a type of partnership where the partners share profits, losses, and management responsibilities according to their agreed-upon terms. The formation of a ühisvormina does not require a separate legal entity registration, unlike a limited liability company (OÜ) or a public limited company (AS). Instead, the partners create a partnership agreement that outlines the rights and obligations of each partner.

The partners in a ühisvormina are jointly and severally liable for the debts and obligations of the partnership. This means that if the partnership incurs debts, all partners are responsible for paying them, up to the extent of their contributions to the partnership. However, the liability of each partner is limited to their respective contributions, which provides a degree of protection against personal liability.

Ühisvormina is a flexible structure that allows for easy formation and dissolution. It is commonly used by small businesses, freelancers, and professionals who wish to operate together without the formalities and costs associated with registering a separate legal entity. The partnership agreement is the governing document of the ühisvormina, and it should clearly define the scope of activities, the distribution of profits and losses, and the decision-making process.

While ühisvormina offers certain advantages, such as simplicity and flexibility, it also has its drawbacks. The joint and several liability of partners can be a risk, and the lack of a separate legal entity may limit the partners' ability to raise capital or protect their personal assets. Additionally, the partnership agreement must be carefully drafted to avoid disputes and ensure the smooth operation of the business.