Difference between partner and general partner
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gale832
Apprentice
Joined: 05 Sep 2008
Posts: 3
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 Posted: 01/29/11 - 11:38 Post subject: |
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| I have recently started thinking about a new company. I am starting a master limited partnership and I have heard I should benefit from such a way of running business. Now, I would like to know what is the difference between partner and general partner , as I have heard both can be very useful. Thanks in advance |
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allyn1490
Apprentice
Joined: 09 Oct 2006
Posts: 6
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| Posted: 02/28/11 - 00:56 Post subject: |
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| There are various types of companies that can help you. You can be a limited partner, which is the most popular option. The difference from general partnerships is in type of partners. In general there are both general and limited partners, while in limited only the letter type is present. The limited liability here means that partners will not be able to make authoritative decisions, and their liability is only proportional to the amount of money they put in a company. It ties hands a bit, but is also significantly safer. |
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