请输入您要查询的英文单词:

 

单词 general partnership
释义

general partnership


General partnership

A partnership in which all participants are general partners. 

General Partnership

A business structure in which two or more persons share in the ownership and profits and losses of the business. In a general partnership, two or more partners, jointly and severally, share all profits, losses, management authority, and risk for the business. Importantly, all partners have unlimited liability, which means that they may lose more than they originally invested.

In most jurisdictions, partnerships are preferable to corporations because partnerships' profits are not taxed prior to distribution to the partners. In other words, there is no equivalent to a corporate tax on partnerships. On the other hand, partners have more legal and financial liability in case of liquidation than would shareholders and most management in a corporation. See also: Limited partnership, Limited liability partnership.

general partnership

A partnership in which each of the partners is liable for all of the firm's debts and the actions of one partner are binding on each of the other partners. Compare limited partnership.

general partnership

A partnership in which all partners are general partners. Contrast with limited partnership.

AcronymsSeeGP
随便看

 

英语词典包含2567994条英英释义在线翻译词条,基本涵盖了全部常用单词的英英翻译及用法,是英语学习的有利工具。

 

Copyright © 2004-2022 Newdu.com All Rights Reserved
更新时间:2024/9/23 14:39:57