LAW 531 Week 1 DQ 2
Please discuss the key differences between a general partnership partnership versus a limited partnership using the following questions to help guide you.
- how are the entities formed (created)?
- who are the owners of the entities?
- what kind of liability exposure do the owners of the entities have?
- how are the entities/owners taxed?
- how are the entities dissolved according to statute?
- degree of formality in operating the entities?
- do the entities lend themselves to managerial control