Tokumei kumiai

Tokumei kumiai

, literally "anonymous partnerships," are a Japanese form of partnership governed by the Commercial Code of Japan, Article 535 et seq. In many respects they are similar to common law limited partnerships.

In a tokumei kumiai arrangement, invest in a venture operated by a .

By law, the partnership itself has no legal personality. Any assets of the partnership are the property of the manager; however, the anonymous partners have a right to a share of any profits from the venture, as provided in the partnership agreement.

Anonymous partners have limited liability for the partnership's debts, on the condition that they are anonymous. If an anonymous partner allows their name to be used in the name of the manager or in the name of the partnership, the anonymous partner loses their limited liability.

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