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22:48 Sep 6, 2008
Romanian to English translations [PRO] Law/Patents - Law: Contract(s) / consortium
Romanian term or phrase:participatiune
a joint venture of several legal entities and/or natural persons in order to obtain profit out of commercial activities develloped together. The important fact is that, in this type of association, as a difference from other companies/joint ventures, only one partner/associate is made public, whereas the others are "silent partners". The agreement itself (The Articles of Association) is not made public, and is only known by the parties. As the partner/associate that is known to the public acts on behalf of the association, he shall be regarded by third parties as acting on his own behalf.
Romanian name for the association: "Asociatiune în participatiune" or "Societate in participatiune"