FORMS OF BUSINESS

Forms of Business



Forms of Business

In limited partnership there are one or more general partners, who manage the business and assume legal debts and obligations and there are one or more limited partners, who are liable only to the extent of their investments. Limited partners enjoy rights to the partnership's cash flow, but are not liable for company obligations, and the general partners enjoy full control over the management and the decision making of the business (Sullivan, 2003). In the given case the sole proprietor should do a limited partnership with a good investor because there are many ...