Offene Handelsgesellschaft, OHG#

Offene Handelsgesellschaft, OHG, Austrian form of general partnership, according to Austrian commercial code (§105 Handelsgesetzbuch) a partnership concluded with the purpose of conducting a commercial business under a joint name. All members are liable without limitation. The OHG is not a legal entity separate of its members but has only restricted legal status. Management and signing authority are in the hands of all partners. Contractual limitations must be entered in the company registry (Firmenbuch). After payment of a preliminary dividend of 4 %, annual profits are distributed equally to the capital accounts of all partners. Independently of profits, the partners may withdraw up to 4% of their actual share of capital. Legal grounds for dissolution include end of duration, termination, death of a partner or other important reasons. In actual practice formal partnership agreements provide for many kinds of deviations from statute law.

Literature#