Partnership Agreement

A general partnership and a limited partnership are founded by registering a partnership agreement and, which must be dated and signed by all the partners. The name of the company must include the words general partnership (“avoin yhtiö”) or limited partnership (“kommandiittiyhtiö”). In the case of a limited partnership the registration authority will ensure that the partnership has at least one general and one silent partner.

A partnership cannot acquire rights or make any obligations prior to registration. It is however possible to act on behalf of a partnership prior to registration. The persons acting on behalf of the partnership are jointly responsible for any such actions. The responsibility for actions made after the signing the partnership agreement or for actions agreed upon in the partnership and carried within a year shall be transferred to the partnership after registration.

The founding of a partnership is canceled if the partnership is not registered within three months of the signing of the partnership agreement.