Is there any module that adds partners subdivisions/branches as I couldn't find anything that adds such functionality. In older versions there was res.partner.address , which was something similar to that, but it was removed. I'm thinking to develop a module that would let choose parent company like you can choose company for contacts. So it would be something like this:

Two fields is_company and is_branch (if is_company not selected, then is_branch will be invisible). If you don't select is_company, then it works like it is working now - you will create contact for company. If is_company is chosen, then another field is_branch appears. If you select that one too, then it creates another company that is child of main company and appears in new tab in main company next to contacts, like branches, where you will be able to see all branches.

Is such approach good, or would it be better to use some other approach, or maybe something is already done here?