Ansvarlig Selskap

Also called ANS. In Norway, a corporate structure whereby all owners are fully responsible for all debts their company acquires. For example, if an ANS company has five owners who agree to split the debts five ways, but two owners refuse to pay, creditors can collect debts from the remaining three. An ANS does not require any investment capital to be registered with authorities, but owner(s) have unlimited liability for any losses. This structure is most common with small and medium-sized businesses. See also: Aksjeselskap.