I want to open a photography studio, but I don't know whether to establish a general partnership or a limited liability company.

One of the most remarkable differences between a general partnership and a limited liability company is the size of the responsibility.

General partnership is unlimited liability.

A limited liability company shall bear corresponding responsibilities with the amount of capital contribution.

"General partnership" is actually an upgraded version of individual industrial and commercial households, because individual industrial and commercial households stipulate that if there are more than two responsible persons, these responsible persons must be family members;

With the emergence of general partnership enterprises, two natural persons can also set up an economy jointly operated by individual workers with similar nature to individual industrial and commercial households, and also bear legal responsibilities with all their personal property, and they are not legal persons.

A limited liability company is a legal person, which only requires shareholders to bear civil liability with their capital contribution. That is to say, if there is a debt of 6,543.8+0,000, only 6,543.8+0,000 contributed by both of you need to be repaid, and the remaining 900,000 need not be repaid, then any company will enter the liquidation and bankruptcy stage.

However, the state's management of limited liability companies is much stricter than that of ordinary partnerships. For example, the annual inspection of limited liability industry and commerce is troublesome, and it is necessary to establish account books and pay taxes according to the income and expenditure of account books.

On the other hand, ordinary partnerships are much more casual and less demanding.

Personally, I feel that if photography has room for further development and bright prospects, it is better to register a limited liability company.

After all, in the understanding of ordinary people, the name of XXX limited liability company is always more powerful and atmospheric than the name of ordinary partnership.