General Partnership (Collective Company – Kollektif Şirket) in Turkish Law

  A. Definition and Characteristics A general partnership is an advanced form of the ordinary partnership and it is regulated by the Commercial Code. Like an ordinary partnership, it is formed between two or more persons who undertake to contribute capital or labor to achieve a common purpose. But, unlike an ordinary partnership, a general partnership has legal personality under Turkish law. Transactions of a general partnership are Conducted in the name of the partnership (registered company title), not in the name of partners. The commercial title of general partnership must contain partners’ or at least one of the partner’s name and surname along with the term “Collective Company”. (TCC*[1] Art. 42) It is defined by Law as “Collective Company...

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