Types of Business Organizations
Thailand, like many other countries, recognizes three types of business organization:
Sole proprietorship
This is a firm, owned by a single individual, that is not incorporated.
Partnership
Thai and Western concepts of partnership are broadly similar. Thailand provides for three general types of partnerships as follows:
Unregistered ordinary partnerships, in which all partners are jointly and wholly liable for all obligations of the partnership.
Registered ordinary partnerships. If registered, the partnership becomes a legal entity, separate and distinct from the individual partners.
Limited partnerships. Individual partner liability is restricted to the amount of capital contributed to the partnership. Limited partnerships must be registered.