Asked on 1/22/2009 by Rose Nylund - The Rusty AnchorAnswered by ABC Staff
General Partnership or simply a partnership, is formed when two or more
persons agree to carry on a business together. This agreement can be
written or oral. A general partnership is formed when two or more
people intend to work together to carry on a business activity. No
local or state filings are required to create this type of partnership.
A general partner may or may not invest, participates in running the
partnership and is liable for all acts and debts of the partnership and
any member of it. A General Partnership does not have limited partners.
Setup a FREE business profile to ask your question. You will also be included in our Member Directory and enrolled to receive our weekly e-newsletter with the latest news and advice for America's small business owners.
I work from home, how should I incorporate my business?
How will it help my business to go green?
How do I get the products I need to start my business?
Is there is a woman's small business stimulus package?
How do I shield myself from liability as an independent distributor?
America's Best Companies, Inc. © 2006-2013 All Rights Reserved
| Register | Help