Tip:
Highlight text to annotate it
X
You have been doing business with some partners and it has come to your attention that they
want to be investors but they really don't want to be involved in the day to day operations
and management. Hello I'm Robert Todd and I'm here to answer the question how to start
unlimited liability partnership. It is important to note that a limited partner does invest
in a company but by the nature of their limited partnership they have a limited liability.
Obviously if they are going to have a limited liability you are going to need a partnership
agreement. Now if you have never been involved in the preparation of a partnership agreement,
either drafting one yourself or having one drafted for you you may want to strongly consider
employing services of a lawyer that specializes in drafting partnership agreements. The partnership
agreement is going to basically determine what amount the limited partner invests and
to what extent that limited partner has liability if any and so you want to make sure this is
done correctly. I'm Robert Todd and thank you for watching.