وبلاگ خانه تبدیل شباهنگ مرکز تخصصی تبدیل صدا و تصویر
Unlimited liability. As the previous example showed, the personal property of the members of the partnership is vulnerable because there is no separation between the owners and the business. The main reason why many companies choose to form or form limited liability companies is to protect owners from unlimited liability, which is the main disadvantage of partnerships or sole proprietorships. If an employee or customer is injured and decides to sue, or if the company incurs excessive debt, the partners are personally liable and run the risk of losing everything they own. So when you consider a partnership, you determine your assets that will be put at risk. If you have significant personal assets that you don`t want to invest in the business and don`t want to put at risk, a company or limited liability company may be a better choice. But if you invest most of what you own in the business, you won`t lose more than if you integrated it. If your business is successful and you realize at a later date that you now have vast personal assets that you want to protect, you may want to consider changing the legal status of your business to ensure limited liability. Under the Uniform Partnerships Act, a partnership is “an association of two or more persons who continue to carry on business as co-owners of a for-profit business.” The essential characteristics of this form of business are therefore the cooperation of two or more owners, the carrying out of transactions with the intention of making a profit (a non-profit organization cannot be called a partnership) and the sharing of profits, losses and assets by the co-owners.
A partnership is not a separate corporation or entity; Rather, it is seen as an extension of its owners for legal and tax purposes, although a partnership may own property as a legal entity. While a partnership can be based on a simple agreement, even a handshake between the owners, a well-designed and carefully crafted partnership agreement is the best way to start the business. In the absence of such an agreement, the Uniform Partnerships Act, a set of partnership laws passed by most states, governs the enterprise. The main advantages of a partnership are as follows: In a general partnership, the owners share both profits and losses according to their share. You also assume responsibility for the company`s debts and liabilities. The Internal Revenue Service (IRS) does not consider a partnership to be a separate entity. Therefore, all profits are taxed on the individual return of each owner. Disagreements and disputes can harm not only the company, but also the relationship between the people involved. Conflicts can be a great distraction and absorb the time, energy and money of partners. Partnership agreements are beneficial to entrepreneurs for a variety of reasons.
One of the most common of them has to do with money. Since more than one person is involved in the management of a partnership, a greater source of capital is available to keep the business unit in operation. It also means more room for development as budgets are higher. If you know what you want to achieve, if you have the right education and experience, and enough money to fund your business, you may not need to look for a partner, at least in the early stages of your business. In many ways, business partnerships are similar to marriage. Ideally, you`ll find a partner who shares your passion for business, has a compatible personality, and is willing to discuss issues that arise along the way. As Marcus says, “Companies are based on relationships and relationships are based on people.” If circumstances change in the future, you or your partner may want to sell the business. This could cause difficulties if one of the partners is not interested in the sale. A possible benefit of a partnership may be a tax benefit. A partnership is not allowed to pay income tax. Instead, as stated on the IRS Partnership website, a partnership “passes” all gains or losses to its partners. Flexibility.
Since the owners of a partnership are usually its managers, especially in the case of a small business, the business is quite easy to manage and decisions can be made quickly without too much bureaucracy. This is not the case for companies that must have shareholders, directors and officers, all of whom assume some degree of responsibility for important decisions. Equitable sharing of benefits can raise difficult questions. How do you assess the respective capabilities of the different partners? What happens if a partner invests less time and effort in the partnership, but still takes their share of the profits? It`s easy for resentment to happen when there doesn`t seem to be a fair balance between effort and reward. If you want to conclude a partnership agreement quickly and easily, it is best to hire a corporate lawyer. Lawyers are very familiar with the law surrounding partnerships and have the resources to help you. I have a B.S. in Accounting and a B.A. in Philosophy from Virginia Tech (2009). I got my J.D.
of the University of Virginia School of Law in 2012. I am an associate member of the Virginia Bar and an active member of the DC Bar. I currently work as a legal advisor and independent lawyer. First of all, my clients are start-ups for which I carry out various types of legal work, including negotiating and drafting regulations, preparing company agreements and partnership agreements, assisting in the relocation of companies to new states and the creation of companies registered in a state, employment assistance, Developing Non-Disclosure Agreements, assisting with private placement offerings and researching intellectual property issues, local regulations, data protection laws, corporate governance and many other facets of the law, as required. .
