An association is a form of cooperation between two or more persons (members) with a common objective. The generation of profit to be shared among the members may not be an objective.
Who is involved?
The ultimate decisions in an association are taken by the general assembly of members, in which each member has in principle one vote. The board is responsible for the everyday running of the association. The board members are usually members of the association. An association can also take people into employment, and/or contractors, volunteers and trainees who work for the association.
Who disposes of the capital?
The profit must go to the common objective.
Who is liable?
The association is a legal personality with legal entity: members of the board and members of an association with full capacity to hold rights are in principle not liable for the obligations, not even after dissolution and bankruptcy. In the event of improper administration or mismanagement, however, the members of the board can be held personally liable.