Business succession within a partnership is achieved either through an asset deal or, especially in situations involving multiple partners, by a change of partner (see Article 542 of the Swiss Code of Obligations [simple partnership; form of association for intellectual professions without commercial organisation]; Article 576 ff. of the Swiss Code of Obligations [general partnership], Article 576 ff. in conjunction with Article 619 of the Swiss Code of Obligations [limited partnership]). The assets are not transferred from one legal entity to another, but rather the previous partner is replaced with a new partner.
Types of partnership affected
The types of partnership for which assets may be transferred by a change of partner:
- simple partnership
- general partnership
- limited partnership.
Departure, entry and taxes
» Taxes
