Mochibun kaisha
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Mochibun kaisha (持分会社?) are a class of corporations under Japanese law. While mochibun kaisha have legal personality as corporations, their internal functions are similar to partnerships, as they are both owned and operated by a single group of members (社員 shain?).
There are three types of mochibun kaisha:
- Gomei kaisha, in which all members have unlimited liability for the company's debts (similar to a general partnership)
- Goshi kaisha, in which some members have unlimited liability and some have limited liability (similar to a limited partnership)
- Godo kaisha, in which all members have limited liability (very similar to a U.S. limited liability company)
Mochibun kaisha are formed by preparing articles of incorporation and depositing the articles with a local Legal Affairs Bureau.
The Japanese civil code also provides for partnerships (組合 kumiai?), a different type of business organization. Civil code partnerships lack legal personality and are mainly used for specialized investment purposes.
