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LIMITED PARTNERSHIP
KITS AND DOCUMENTS
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WEB TRADE
CENTER'S
LIMITED PARTNERSHIP KIT -
$17.95
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What Is A
Partnership Agreement
A partnership is an association of two or more persons for the
purpose of conducting business. Although the partnership can declare
bankruptcy and limit some liability, it is not normally regarded as
a legal entity like a corporation.
There are two types of partnerships -- the general partnership and
the limited partnership.
In a general partnership, all partners share in both the profits and
responsibilities of the business. Unless otherwise spelled out in
the partnership agreement, each partner has one vote, no matter how
much he has contributed to the business. A general partnership is
the most popular partnership.
A limited partnership is an arrangement where a person or company
invests in an unincorporated business and still gains limited
liability protection. However, they do not possess any management
powers. (The legal documents in this kit have been designed for a
general partnership only.)
A partnership begins with an agreement, which can be spoken, written
or simply a matter of understanding. Good friends who decide to form
a partnership may not feel it necessary to reduce their arrangements
to writing. However, experience proves that it makes sense to draw
up an agreement. Any point that is covered in the partnership
agreement is subject to state law.
If you decide that a Partnership Agreement is what your business
requires, this kit will make the process simple, quick and easy
OS
Compatability
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Limited Partnership Legal Software
Download Available
Price: $17.95 USD
Find out more about this Limited Partnership Kit |
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