consideration is given to the partner’s personal identity.
2. Capital companies: in these, the personal element is minimal and what counts is the capital employed in the company’s operations.

• Types of partnerships of persons:

1. General partnership (sharikat al-taḍāmun): a company formed by two or more persons for the purpose of trade, in which all the partners are jointly and severally liable, with both their business and personal assets, for every obligation of the company.
2. Simple limited partnership (sharikat al-tawṣiyah al-basīṭah): a company concluded between one or more persons who, as general partners, are jointly and severally liable with all their assets for the company’s debts and who manage the firm, and between one or more partners who contribute capital only, are liable solely to the extent of their shares, take no part in management, and are called limited partners.
3. Silent partnership (sharikat al-muḥāṣṣah): a partnership that exists solely among the partners and has no legal presence before third parties; if one of the undisclosed partners contracts with an outsider, he alone is liable, while profits and losses are shared among them according to their agreement.

• Types of capital companies:

1. Joint-stock company (sharikat al-musāhamah): a company whose capital is divided into shares of equal value, each partner holding a number of such shares.
2. Partnership limited by shares (sharikat al-tawṣiyah bi-l-asʾhum): akin to the simple limited partnership in that it has both general partners and limited partners whose liability is confined to their shares, and resembling the joint-stock company in that the capital is divided into shares.
3. Limited liability company: a company that possesses the characteristics of corporations;