engleski

SMEs IN BOSNIA & HERZEGOVINA AND CROATIA: IS THERE A FUTURE FOR PARTNERSHIP FORMS?

In most of the European jurisdictions, small and medium-sized enterprises (SMEs) incur significant costs in carrying out their regular business activities due to the legal requirements imposed on them, which are traditionally tailored to satisfy the needs of large public companies. As a result, the need for providing business organization forms which will meet the needs of smaller businesses has been recognized recently. This paper examines legal characteristics and usage of different forms of partnerships and certain hybrid legal forms as types of business organizations in several European countries with the aim of establishing the advantages and disadvantages of their use. The results are then compared with the existing legislation in Bosnia and Herzegovina and Croatia. There has not been much use of partnership forms in these countries, mainly due to the unlimited liability imposed on partnerships members. Following recent trends of some jurisdictions allowing limited liability partnerships, the aim of this paper is to examine the attractiveness of partnership form features and to discuss the possibility of creating new hybrid business forms which will suit the needs of SMEs in these countries.

organization form ; partnership ; small and medium-sized enterprises

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