As with a limited liability corporation, the Articles of Incorporation of a limited corporation must include the names and addresses of each member and the number of investment units held. Depending on the terms of the Articles of Incorporation, members may receive disproportionate voting rights, and economic preferences to dividends and liquidation proceeds. A limited corporation must have at least one director with authority to represent the entity, to perform all acts on its behalf and to bind it with respect to third parties without further corporate authorization. The limited corporation is not required to appoint a statutory auditor. The unlimited commercial partnership corporation is similar to the general partnership in the United States.
All partners are jointly and severally liable for the obligations of the partnership.
However, unlike a general partnership, the unlimited commercial partnership corporation is a separate legal entity for all purposes including corporate income tax purposes. Corporations may not be partners of the unlimited commercial partnership corporation. Each partner has the right and duty to manage the affairs of the partnership corporation unless otherwise provided in the articles. Each partner has the authority to represent and to bind the partnership to third parties. All partners are jointly and severally liable for all liabilities of the partnership corporation in excess of its assets.