In a partnership , there are two primary types of members: general partners and limited partners. While both play essential roles in the business, they differ significantly in terms of responsibilities, rights, and liabilities. This article compares and contrasts the two types of members to highlight their unique features. 1. What is a General Partner? […]
A partnership is a popular business model where two or more individuals join together to run a business, sharing profits, losses, and responsibilities. In this model, each general partner is jointly and severally liable for the company’s obligations, which makes trust and cooperation among partners essential. This article outlines the rights, obligations, and conditions for […]