Partnership

  • 1 hour
  • 19.99 US dollars
  • High Bluff Drive

Service Description

A partnership is a form of business organization in which owners have unlimited personal liability for the actions of the business, though this problem can be mitigated through the use of a limited liability partnership. The owners of a partnership have invested their own funds and time in the organization, and share proportionally in any profits earned by it. There may also be limited partners in the business, who contribute funds but do not take part in day-to-day operations. A limited partner is only liable for the amount of funds he or she invested in the entity; once those funds are paid out, the limited partner has no additional liability in relation to the activities of the partnership. If there are limited partners, there must also be a designated general partner that is an active manager of the business; this individual has essentially the same liabilities as a sole proprietor.

Contact Details

  • Direct Guard Services - San Diego, 12526 High Bluff Dr, San Diego, CA 92130, USA

    6198555155

    info@longvernon.com