Examlex
The systemic circuit
General Partners
Individuals in a partnership who share unlimited personal liability for the debts and obligations of the business, and who typically take part in managing the operations of the partnership.
Written Partnership Agreement
A legal document outlining the terms, conditions, and operational aspects of a partnership between two or more individuals or entities.
Limited Partnership
A business arrangement where one or more 'general partners' manage the business and are personally liable for debts, while 'limited partners' contribute capital and share in profits but have limited liability.
Sharing Profits
The distribution of a portion of a company's earnings to stakeholders, such as employees or partners.
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