The Legal Implications Of Partnerships In The Corporate Arena

Corporate formation has major implications for liability and taxation and therefore the goals and objectives of the business should be evaluated prior to formation. The issue of partnerships have many options which each have benefits to their adoption. However, a partnership will not be permitted to conduct sham operations in an effort to escape liability and therefore the individuals will be personally liable.

The following questions have been addressed in this article:

What are the legal implications regarding general partnerships?
What are legal implications involving the registered limited liability partnership?
What are the legal consequences of selecting the limited partnership?
What are the legal implications of Limited Liability Limited Partnerships?
How can partnerships and joint ventures be differentiated?

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