limited partnerships

Two (or more) people want to go into business together.  They’re holding hands (metaphorically speaking), ready to skip lightly down the path of shared entrepreneurship, when a legal questions arises:  what form of business should we choose? The short and obvious answer it:  it depends.  And the decision is a crucial one that should involve […]

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Here’s a disturbing thought:  imagine that you’re a limited partner in an entity that’s a limited partnership.  By definition, you’re liabilities are supposed to be limited — that’s why you’re a limited partner.  It’s the “general partner” who’s usually left holding the bag when it comes to claims and liabilities of the limited partnership. But […]