In the French Civil Code, the partnership system replaced the joint-stock system. Partnerships bore joint and unlimited liability, while joint-stock companies bore limited liability. For example, if a company owed foreign debts, every partner had to bear responsibility, whereas in a joint-stock company, liability was limited to the shareholders' capital contributions. If the company became insolvent, shareholders' personal assets not invested in the company would not be used to settle its debts.
The methods of distributing profits also differed. Partners could divide them equally according to the contract or distribute them by an agreed method. Partnerships provided capital according to the agreement. When Bonaparte signed the Industrial Credit Bank contract, he also contributed part of the money himself. In the contract Georgiana signed the day before yesterday, as Bonaparte's agent for his Belgian property, she had the authority to sign for the disposition of that wealth.
Besides movable and immovable property, partnership contributions also included intellectual property. William Cockerill could provide every component for spinning machines that produced high-count yarn. In addition, he had worked for several manufacturing companies in Birmingham and was familiar with every stage of smelting, processing, and assembly. Many of Britain's emigrant talents were obscure ordinary people. Most had been tempted by high salaries or persuaded by old colleagues, only to discover broader prospects abroad.
Cockerill had only one daughter. She was attracted to a young man working in metallurgy in Liège. The two married in Europe, and at the urging of his daughter and son-in-law, William Cockerill came from Britain to continental Europe.
Cockerill was unlike Viktor Du Pont, whom she had met before. He was a rather plain and honest mechanic. It was unusual to have someone devoted to technical work deal with loans, but Cockerill had grand plans of his own. He intended