Examlex
This approach, a variant of utilitarianism, considers an action to be ethically good if it will probably produce a greater balance of good over evil:
Liability
The legal responsibility to settle debts or obligations, which may arise from contracts, torts, or statutory duties.
Management Duties
The responsibilities and tasks assigned to the management of an organization, including decision-making, planning, staffing, directing, and controlling.
Limited Partners
Individuals in a partnership who invest money but are not involved in day-to-day management, and whose liability is limited to the amount of their investment.
General Partnership
A business structure where two or more individuals agree to share in all assets, profits, and financial and legal liabilities of a venture.
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