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For-profit legal persons and commercial organizations of China and Uzbekistan

In accordance with the article 76 of the civil code of China a for-profit legal person is a legal person established for the purpose of making profits and distributing the profits among its shareholders and other capital contributors. For-profit legal persons include limited liability companies, join stock companies limited by shares, and other enterprises that have the legal person status⁴.
According to the article 56 of the civil code of the Republic of the Uzbekistan commercial organizations with the authorized fund (authorized capital) divided into shares (deposits) or shares of founders (participants) are recognized as business partnerships and companies. The property created at the expense of the contributions of the founders (participants) or the acquisition of shares by them, as well as produced and acquired by an economic partnership or company in the course of its activities, belongs to it by right of ownership.
Business partnerships and companies can be created in the form of a full partnership, a limited partnership, a limited or additional liability company, a joint-stock company.
Individual entrepreneurs and (or) commercial organizations may be participants in general partnerships and full partners in limited partnerships⁵.
The articles illustrate that the following differences and similarities to the concept for-profit legal organization between Uzbek and Chinese legislation:
Firstly, the legislation of the Republic of Uzbekistan defines for-profit organization as a commercial organization meanwhile Chinese legislation defines as a for-profit legal person;
Secondly, in China for-profit legal persons include limited liability companies, join stock companies limited by shares, and other enterprises that have the legal person status meanwhile in Uzbekistan commercial organizations include full partnership, a limited partnership, a limited or additional liability company, a joint-stock company.
Thirdly, the legislation of Uzbekistan clearly defines that individual entrepreneurs and commercial organizations can be participants in general partnerships and full partners in limited partnerships.
When we understood the concept of the for-profit companies and their purpose in both states, let’s analyze them more deeply.

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