Corporate Combinations by William Pennington https://padlet.com/20pennw/4ync03qrfziq en-us 2019-09-23 00:36:42 UTC 2019-09-24 01:51:19 UTC hello@padlet.com General partnership 20pennw https://padlet.com/20pennw/4ync03qrfziq/wish/388546344 All Partners share equally in both liability and responsibilities

Advantages - the more you invest in a company the more business responsibility you earn, both share rewards equally

Disadvantages - you may have to put up personal items to cover payment for loans

Two people that want to start a restaurant business.]]> 2019-09-24 00:56:07 UTC https://padlet.com/20pennw/4ync03qrfziq/wish/388546344 Limited Partnership 20pennw https://padlet.com/20pennw/4ync03qrfziq/wish/388549590 Only one partner is required to be a general partner

Advantages - if you are the partner that isn't required to be a general partner you are only liable for the money that you invest 

Disadvantages - limited partners play no role in managing the business

Accountant and a small business owner. The business owner would be the general partner.]]> 2019-09-24 01:00:59 UTC https://padlet.com/20pennw/4ync03qrfziq/wish/388549590 Limited Liability Partnerships 20pennw https://padlet.com/20pennw/4ync03qrfziq/wish/388557903 All partners are limited liability

Advantages - partners are not liable for other partners mistakes in certain circumstances

Disadvantages - You are still responsible for any mistakes that you make that cost the company

Two doctors starting their own practice.]]> 2019-09-24 01:27:47 UTC https://padlet.com/20pennw/4ync03qrfziq/wish/388557903