DEFINATION OF THE SIMPLE PRIVATE PARTNERSHIP (SCS)

A Simple Limited Partnership, abbreviated as SCS, is a type of commercial company formed by at least two individuals or legal entities with the purpose of conducting commercial activities. The SCS is composed of general partners (commandités) and limited partners (commanditaires). This legal structure is highly flexible, as it does not require a minimum imposed share capital. The amount of capital is freely determined by the partners. Furthermore, the entire determined capital does not need to be fully paid upon the establishment of the SCS. The SCS has a legal personality distinct from each of its entrepreneurial members.

OPERATIONS OF SCS ?

The SCS can be created without a minimum share capital, although it is recommended to have at least two partners. It possesses legal personality, and its purpose must be commercial. It consists of at least one general partner (active within the company and liable for debts) and at least one limited partner (liable for debts up to their initial contribution). Contributions to the SCS can be in the form of assets, cash, or industry.

A key characteristic of the SCS is "intuitu personae," meaning that members of the SCS are chosen based on their person. This has several practical consequences, such as the non-transferability of the shares of general partners without the unanimous consent of the SCS partners. Additionally, in principle, all general partners are managers, unless otherwise specified in the bylaws. The departure of a general partner typically leads to the dissolution of the SCS, unless stated otherwise in the bylaws.