Content Related To 'partnerships'

Forming a Partnership

Lea en español In some states, a partnership may be formed as soon as two or more people associate to carry on as co-owners of a business for profit. In other words, no formalities exist when forming a legally recognized partnership in these states. The partnership agreement may be either expressly written or implied through […]

Partnership Liability for Each Type of Partnership

Lea en español Whether you are personally liable for the acts of other partners depends on what kind of partnership you are in. If you are in a general partnership, you are personally liable for all acts of the other partners. In a limited partnership, which has both general and limited partners, general partners are […]

Types of Partnerships

Lea en español The three main types of partnerships are general partnerships, limited partnerships and limited-liability partnerships. A general partnership may be formed expressly with a written agreement or, in some states, implicitly from the conduct of the parties. All partners in a general partnership are personally liable for acts of the other partners. A […]