Partenreederei
From Wikipedia, the free encyclopedia
A partenreederei (German pronunciation: [ˌpaʁtn̩ʁeːdəˈʁaɪ]; Plural: Partenreedereien) is a type of partnership under German and German-influenced maritime law for the joint ownership of a merchant vessel. Each partner, or partenreeder, functions as an equity partner, sharing proportionately in the proceeds, as well as the corporate debt of the business—this liability is not limited.[1] This form of ownership is related to the Dutch partenrederij system that ultimately gave rise to joint-stock companies, and dates back to the Middle Ages.[2]
As a system of business organization, partenreederei was very common in the Baltic Sea and in England in the 1870s.[3]