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goji.go goji.go
wrote...
Posts: 5977
11 years ago
What is the difference between a general partnership and a limited partnership? What would be some reasons for choosing a limited partnership?
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3 Replies
Diesel
Replies
bbb
wrote...
11 years ago
In a general partnership, each partner has unlimited liability and is active in managing the business. In a limited partnership, partners invest money in the business and share in the profits, but have limited liability and cannot legally assume any management responsibility. Someone may enter into a limited liability partnership because they want to share in the profits without taking on the risks to personal assets or the role of managing responsibilities.
goji.go Author
wrote...
11 years ago
Thanks for helping me with my business review homework.
Diesel
Answer accepted by topic starter
bbbbbb
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Top Poster
Posts: 4797
10 years ago
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