A partnership:
is a type of person company, a personal company, that is, a group of people, often a business collaboration between family members, friends, or people with prior knowledge or a long career.
According to article 20 of the Commercial Code, this type of company is defined as "a company entered into by two or more companies for the purpose of trading in partnership with each other under a special name".
According to Article 22, "A partnership is a company consisting of two or more persons under a given name and the partners are fully liable against the obligations of the company so that all the partners are bound by the debts of the company in all their funds jointly, without any of them having to pay in expropriation or division against the creditors of the company." Under the law, the partners in a partnership are bound by all their commitments
The minimum capital for solidarity companies is 300 thousand pounds, which is set by the law, but it excludes in this service activities that perform their profession entirely within industrial areas or urban cities, where a minimum capital has been allocated to them to reach 30 thousand Egyptian pounds.
There are a number of regulatory laws that regulate the operation of general partnerships under Egyptian law, including:
-Neither partner in a partnership can cede its share to a third party (a person outside of the original partners) without the prior consent of the other partners, but the partner may cede its share to one of the partners in the partnership and the partner may cede its profits to another, while remaining jointly liable before the company and the other partners.
-A partnership may not issue negotiable instruments with shares of partners.
Every partnership has an address and a name that is distinct from others and deals with others -By that name as a legal person distinct from the partners.