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Partner company: an organizational form in which two or more partners own the company and share the profits of the company. The partners are the owners or shareholders of the company. Its main characteristics are: partners share the operating income of the enterprise and jointly bear unlimited responsibility for operating losses; It can be jointly operated by all partners, or it can be operated by some partners, and the other partners only contribute and are responsible for their own profits and losses; The composition of partners can be large or small.
Liability form: the liability form of a partner refers to the way that a partner assumes responsibility for the debts of a partnership, which is the basic feature of a partnership that is different from a corporate enterprise. The laws of different countries have different provisions on the forms of liability of partners. Some require all partners to bear unlimited liability, some stipulate that partners can bear limited liability, some allow some partners to bear limited liability on the basis of unlimited liability for company debts, and some also require unlimited partners to bear joint liability for company debts. China's "Partnership Enterprise Law" stipulates that partners shall bear unlimited joint and several liabilities for the debts of the partnership enterprise.