Thai and Western concepts of partnership are broadly similar. Thailand provides for three general types of partnerships:

•  • Unregistered ordinary partnerships, in which all partners are jointly and wholly liable for all obligations of the partnership
•  • Registered ordinary partnerships. If registered, the partnership becomes a legal entity, separate and distinct from the individual partners
•  • Limited partnerships. Individual partner liability is restricted to the amount of capital contributed to the partnership. Limited partnerships must be registered.