KINDS OF PARTNERS

1. As to activity
a. TRADING PARTNERSHIP – main activity is manufacture & sale or purchase & sale of
goods
b. NON-TRADING PARTNERSHIP – operate for the purpose of rendering services
2. As to object
a. UNIVERSAL PARTNERSHIP OF ALL PRESENT PROPERTY - all assets contributed and
subsequent acquisitions become common partnership assets
b. UNIVERSAL PARTNERSHIP PROFIT OF ALL – partnership assets (assets acquired &
usufruct of assets contributed); original movable/ immovable property contributed
will not be part of partnership assets
c. PARTCULAR PARTNERSHIP – one which has for object determinate things, use or
fruits, or specific undertaking or exercise of profession or vocation
3. As to liability
a. GENERAL CO-PARTNERSHIP – general partners who are liable prorata & sometimes
solidarily with their separate property
b. LIMITED PARTNERSHIP – one ore more general partner and one or more limited
partners; LIMITED/LTD is added to their name
4. As to duration
a. PARTNERSHIP AT WILL – no term specified and may be terminated any time
mutually or by will of a partner
b. PARTNERSHIP WITH A FIXED TERM – exists for a period of time and immediately
terminated unless continued
5. As to representation to others
a. ORDINARY PARTNERSHIP – exists among partners and third persons
b. PARTNERSHIP BY ESTOPPEL – not really a partnership but precluded to deny or
disprove the partnership’s existence
6. As to legality of existence
a. DE JURE PARTNERSHIP – complied all the requirement for establishments
b. DE FACTO PARTNERSHIP – did not comply all the requirements
7. As to publicity
a. SECRET PARTNERSHIP – certain partners are not publicly known
b. OPEN PARTNERSHIP – certain partners are publicly known