学生任务 世纪商务英语 阅读教程Unit7 TextB Partnership.ppt

Partnerships Contents Definition A partnership is a type of business entity based on agreement in which partners share with each other the profits or losses of the business. Classification Either general or limited Differences Advantages and disadvantages * Definition Classification Differences Advantages and disadvantages 1 2 4 3 3 No control over the everyday management of the partnership,whereas. General partners have a voice in the everyday managment. Control One or more partners have limited liability. All partners have unlimited liability. Liability Limited partnership General partnership √ or × Responsibility for liabilities of the partnership Division of profits Disagreements among partners Difficulty in terminating the partnership Credit Rating Specialization Decision making Reguatory Controls Distribution of Profits *