In the event of the bankruptcy of a clearing partner or in the event of a pledge of the partner`s liquidation share, he may have been excluded from the other partners and have paid his share of the company`s assets. The general partnership and the limited partnership are registered in the trade register. The general partnership and the limited partnership are free to choose their corporate name, subject to general principles of company names. The name must be clearly different from the other company names in one of these forms registered in Switzerland and must include the indication of the activity form in question. The abbreviations accepted for the general partnership are KlG (German) or SNC (French and Italian). The abbreviations accepted for the limited partnership are kmG (German), SCm (French) and SAc (Italian). General partnerships are considered to be legally speaking companies in Switzerland and are representative, in addition to limited partnerships, of approximately 19,000 legal entities registered in Switzerland. If the social contract does not contain provisions relating to profit and loss sharing, the law provides that each partner of a simple or general partnership, regardless of its contribution, has an equal share of profits and losses. In the case of a single limited partnership, the court would determine, at its sole discretion, the share of the sponsors` profits if no relevant provision is adopted as part of the partnership agreement, taking into account the facts of the case. Sponsorship participation in a potential case is limited to the amount of its in-house agreed contribution.
The strongest deterrence is certainly the joint and several liability of partners (and complementary partners in the case of a limited partnership). In principle, the appearance of such a ground of dissolution does not directly lead to the end of mere partnership. Only their purpose, consisting of the liquidation of the partnership, changes. The procedure ends only with the liquidation of common assets, the payment of debt and the allocation of surplus assets to partners or the coverage of the deficit by the partners. If a partner takes over all assets and liabilities by way of agreement and reimburses the other partners, the reason for the dissolution and termination of the simple partnership occurs exceptionally without liquidation of the partnership.