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在过去三十年里,很多商事组织的法律形式在美国诞生,包括:有限责任公司(limitedliabilitycompany,LLC)、有限责任合伙(limitedliabilitypartnership,LLP)、有限责任有限合伙(limitedliabilitylimitedpartnership)和法定商事信托(statutorybusinesstrust)等。这些商事组织形式将传统商事公司的债权人权利或财产分隔(assetpartitioning)与合伙中的投资与管理的合同自由结合在一起。将这些新法律主体视为类合伙组织是把合同自由度作为传统公司与合伙组织的最主要区别;而将它们视为类公司组织是将债权人权利的类型作为公司与合伙的最主要区别。虽然近期学者通常采纳前一种观点,但后一种观点似乎更准确。历史证明传统公司形式中的固定合同仅仅是支撑公司制企业债权人权利的基础,这种固定随着投资者保护的其他替代方式的发展而消亡。因此,新的商事组织形式最好被认为是公司形式继续发展的一部分表现而不是更类似于传统的合伙。合伙实际上一直在另一个方向上发展。文章的研究首先以合同自由和直到今天仍然吸引学界最广泛关注的有限责任这种财产分隔形式之间的平衡为出发点。进而,笔者从一个大家相对不熟悉的视角,即聚焦于财产分隔中的“主体保护”(entityshielding)的组成来研究新商事组织形式。。亨利·汉斯曼和理查德·斯科维尔是耶鲁大学法学院的教授,雷
In the past three decades, many legal forms of commercial organizations were born in the United States, including: limited liability companies (LLCs), limited liability partners (LLPs), limited liability limited partners (PSPs) and statutory business trusts )Wait. These forms of commercial organization freely combine the creditor’s rights or property separation of traditional commercial companies with the investment and management contracts in the partnership. To regard these new legal entities as class partnerships is to regard the freedom of contract as the most important difference between traditional companies and partnership organizations. To regard them as class-based organizations is to regard the type of creditor’s rights as the most important difference between a company and a partnership. Although scholars have generally adopted the former view, the latter view seems to be more accurate. History has proven that fixed contracts in traditional corporate forms merely underlie the rights of corporate corporate creditors, which have perished as other alternative forms of investor protection have evolved. Therefore, the new form of commercial organization is best considered as part of a continuation of the corporate form rather than as a more traditional partnership. The partnership has in fact been going in another direction. The study begins with the balance between freedom of contract and the forms of property segregation of limited liability, which until today still attract the most widespread attention in the academic community. Furthermore, the author studies the form of a new business organization from the relatively unfamiliar perspective of everyone, focusing on the composition of ’entityshielding’ in property separation. . Henry Hensman and Richard Scoville are professors at Yale Law School, Ray