In other words, if there are debts to the budget, suppliers, contractors and other creditors, on the basis of judicial decisions is your personal property can be described and sold to repay these debts. Such liability is sole proprietor is unlimited. On the contrary, the responsibility of the participant llp is limited only by the value of the unpaid part of his contribution to the authorized capital of the partnership (within the cost of a deposit party bears the risk of an economic partnership losses). Shareholder bears the risk of losses to the value of his shares.
Sometimes entities (especially overseas), are reluctant to cooperate with private entrepreneurs. Reasons may be failure of an entrepreneur vat implementation of activities on the basis of the patent. Individual entrepreneur can not be “restructured” into a legal entity, such as a limited liability partnership. Individual entrepreneur, working under the patent shall not be entitled to hire employees.
Difficult within a single business enterprise union capital of several persons. Although there is form the joint venture as a partnership, in which can combine several individual entrepreneurs, such a union entity is not considered. 6. Difficult individualization business affairs. Law on Individual Enterprise “(Article 26) allows an entrepreneur to set their business brand name, which is subject to legal protection and without registration. However, to protect an unregistered business name from misuse or other violations in practice almost impossible. At the same legal entity business name is registered at the time of creation and more securely protected from use by third parties, if only because of the fact that under such brand name of another entity is no longer possible to register.