Partnership Law

A partnership agreement involves two or more persons who agree to go into business partnership together as co-owners. The simplest type of partnership is a general partnership; although, there are other partnership types, including joint ventures, which are formed for a specific, limited purpose or for a limited period of time. Limited partnerships (LPs) are like general partnerships, except that the limited partners are passive investors and are prohibited from managing the business. Limited liability partnerships (LLPs) are essentially the same as limited liability companies (LLCs), except that an LLP is specifically designed for use by certain professions, the general partners are not liable for the negligence of other partners, and the general partners remain liable for the general obligations of the partnership; whereas, the members of an LLC are generally not liable for the debts and obligations of the LLC. Access more information here in the partnership law practice center."

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Partnership Law Articles
-  Limited Liability Partnerships-  Business Taxes
-  Partnerships and Joint Ventures-  Withdrawal from a Partnership
-  Limited Partnership-  General Partnership and Fiduciary Duties
-  Termination of Partnerships-  Limited Liability Company
 
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