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Why should I create Partnership?

 
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Category : > Partnership
Posted On : Fri Aug 28th,2009

 
 

 Persons with small investment often choose a sole proprietor business structure when starting up. Greater rewards may result from forming a partnership. Partnership registration offer more freedom for business owners with shared business tasks and the potential to earn greater profits. There are many advantages to sharing a business with partners, including:

  • A partnership formation can be easy and inexpensive to set up.
  • If you create partnership, there will be more capital because you combine your resources with the other partner.
  • One partner can sustain the business during another's illness or absence due to other commitments.
  • That will cut down the burden of working different tasks.
  • Fairly easy to dissolve and recover your share of investment.
  • All Partners work and own the profit as per the settled terms and conditions.
     

 

 

If you are ready to order for a partnership or a general partnership registration please click order now button or for additional information read more. You can also use our 24/7 live chat service for free consultation or toll free +1 (866)754 4460

 

  


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Comments (4)
Joy Mehta   wrote on : Wed May 05th,2010
My name is Joy and my husband and I are both educators in Texas who are in the planning stage of putting up a business to mass produce and market Science games for use as classroom teaching tools. I would be very grateful if somebody can advise me if it will be better for us to register the business as a sole proprietorship under just his name or as a general partnership. We do not foresee needing to hire any employee as he will be doing the designs and I will do the logistics so it will just be a two-men operation.
Reply : infotaxsquare.com
 

If it is a two men operation then it can not be registered as sole proprietor. It can only be registered as general partnership. The only disadvantage of registering a general partnership is if one partner can not compensate then the liability automatically transfers to the general partner.



Gordon J Lawrence   wrote on : Sun Jul 11th,2010
7/10/10 Hello Again I plan to change the of a Corporation when this is over, Legally. Thanks GJL GATAOLCOM, LLC (When the head man retires he should have a major corporation to run) "cgs"
Reply : infotaxsquare.com
 
Dear Gordon J Lawrence:

Thanks for choosing InfoTaxSquare.com for your business needs. We would suggest you to please call us at 516.822.3100 or let us have your number to call you. Because we need additional information to give you proper advice.

Thanks,

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delwar mottaleb   wrote on : Thu Apr 07th,2011
3 of us raise fund for open a restaurant business. what will be better for us?
Reply : infotaxsquare.com
 
Dear Delwar Mottaleb,

Thanks for choosing InfoTaxSquare.com for your business needs. You can consider LLC (Limited Liability Company) structure. For additional question please do not hesitate to contact us.

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Rick L Rushing Sr   wrote on : Sun Jul 17th,2011
I was approched by two people, now my partners... I started the company, brought all the work, brought all the sales men, brought all the customers, found thr building to rent, picked all the machines out and had P/O's in my hand for $750,000 before the machines were set up... I always thought and was always told by others to get more shares, that partnerships don't work... I thought that maybe it was because they start out by not being equal shares... I new that I had all the exsperiance and allot of the weight on my sholders... but both of them said they would do anything I say and that I could be the President/Ceo of both the partnership & of Turn Key Tool & Die Inc... About a year and a half into the buisness, it was very clear i need someone else... I needed a fourt leg to stabalize the foundation... CANT DO IT ALL...! so I brought in a fourth partner and at that time everybody seemed to be following my direction... I had all our prcesses in place... I have built up a 21 man shop... doing 4 million a year and been in buisness for 9 years... but about 8 months ago, the other partners decided that they are owners and no longer have to fallow the procedures that I put in place and decided that that new more than I did and started changing what I put in place... thought that faster was better... now we ship our dies 6 weeks late and our quality is slipping... My customer said I needed to get back in charge or loose there buisness... I have started and am now getting resistance... customers can tell things are getting better... I have partners that are taken advantage... I am the President, can I fire them from the company, I know I can't take there share's away... but I should reside over all persons and set the day to day operations... any one have some advice?
Reply : infotaxsquare.com
 
Dear Rick L Rushing Sr,

Thanks for choosing InfoTaxSquare.com for your business needs. Our job is limited to business registration. You have a legal issue which should be consulted to an attorney.

Thanks!


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