THE FUTURE OF PARTNERSHIP AS A LEGAL ENTITY IN UZBEKISTAN

Abstract

The article studies the legal nature of general and limited partnerships. This material provides a comparative analysis of the systemic principles of partnerships as legal entities in Western countries and Uzbekistan. The article focuses on the evolution of partnerships in a historical perspective. The paper points out that in many countries business partnerships are not a legal entity. The author points out that depending on the application of the theory of association and the theory of legal entity, both the understanding of a business partnership and its practical application would alter. The material indicates the main conditions for the creation of a limited liability company and a business partnership as separate institutions. The article indicates the main reasons for the unpopularity of business partnerships. The author pays attention to that limited liability companies are usually established in Uzbekistan, and if the theory of business partnerships is not changed, the latter can be withdrawn from the legislative field.