Want this question answered?
coreyscott
With a partnership you don't have to stress over every decision. You and your partner can share the decision making process.
No a partnership cannot be a share holder in a company
no its is no its is not married
Yes, there are procedures for converting a Partnership business into a Company or a LLP at a later date. However, the procedures to convert a Partnership firm into a Company or LLP are cumbersome, expensive and time-consuming. Therefore, it is wise for many entrepreneurs to consider and start a LLP or Company instead of a Partnership firm.
The responsibility is shared.Burden of dept can be shared.
coreyscott
The responsibility is shared.Burden of dept can be shared.
With a partnership you don't have to stress over every decision. You and your partner can share the decision making process.
specialization
If taxed as a partnership why is a joint venture different. why is it not considered a partnership too Can a member of the joint venture spend whatever they want without consulting the other member
No a partnership cannot be a share holder in a company
In a partnership business there are two or more partners. One of the main advantages is the low startup cost.
== ==
Partnership is an arrangement where parties agree to cooperate. The most common example of a partnership company is Facebook and Skype.
a partnership converts to a company structure
One disadvantage to having a partnership is the fact that you have to share your profits. An advantage to having a partnership is the fact that if the business fails you can share the losses.