1. Types of Business Entities -
Italian law provides multiple forms of organizational structures to do business in Italy. They differ from one another due to the extent of liability undertaken by its members. In particular, certain business organizational forms do not limit the liability of its members (among which the “società semplice” and the “società in nome collettivo” that operate similar to a partnership) or which provide for limitations to the personal liability only for certain classes of stakeholders (i.e. the “società in accomandita semplice” and “società in accomandita per azioni”), as opposed to others which limit their personal liability (such as the Società a responsabilità limitata” – similar to the Limited Liability Company or the “Società per azioni” similar to the Joint Stock Company).
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