Examlex
Which was one feature of the New Jersey Plan?
General Partners
Owners of a partnership who have unlimited personal liability for the debts of the business and participate in its operations.
Limited Liability
A legal principle that limits the amount of financial risk and responsibility of investors or partners in a company to the amount of their investment.
Management Participation
Management participation involves the active engagement and involvement of a company's management team in its day-to-day operations and decision-making processes.
LLC Members
Individuals or entities that own a part of a Limited Liability Company and have rights and responsibilities as outlined in the LLC's operating agreement.
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