Examlex
Which of the following factors may increase risks to an organization?
Limited Partnership
A partnership structure where there is at least one general partner who manages the business and assumes unlimited liability, and one or more limited partners who provide capital and have liability only up to the amount of their investment.
Unlimited Liability
Refers to a legal structure where the owners are personally responsible for the debts and obligations of the business without any limit, potentially impacting their personal assets.
Legal Agreement
A contract that outlines terms and conditions between parties, binding them legally.
UPA
Uniform Partnership Act, which is legislation adopted by some states in the USA to govern partnerships.
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