Abstract

Th e essence of a partnership is personal involvement in conducting its business. Th is is only an assumption because a partnership’s internal organization may be modifi ed so as to relieve some of the partners from this obligation. Co-management of a fi rm is manifested (among other things) in the ability to act on behalf of a partnership in external matters (e.g. in relations with clients). In a statutory model, every partner or managing partner in a limited partnership and a joint-stock partnership is entitled to represent the company. Th e Polish Commercial Companies Code allows for this competence to be excluded in specifi c cases. Th e key question is whether these changes are eff ective towards third parties.