Wilson PonThe Useful Business Guides to the Businesspeople!
July 23rd 2009 06:06
Welcome back, guys…
In the last couple of days, we’ve been talking about the essential ways to start up your online business without hassle.
Today, we’re continuing our journey, by discussing the important of partnership in our business. Frankly, when I have a lunch break, I’ve used my 15 minutes to surf and browse the internet. During the surfing process, I discovered a genuine website, which is related with business directory and guide.
I’ve scoured the website for about five minutes and a light bulb is suddenly light on! My mind is crossing by with an interesting topic. It's about the partnership matter. Hence, I decided to write a post about it...
Define this word, “Partnership”. Well, most people will properly say it’s a type of business entity, which a few partners share with each other, either the profits or losses of their business. Ok, you’re partially right about it, as partnership is much more than the above statement!
For you information, there are three different types of partnerships, which as:
General Partnership
Normally, the partners in a general partnership share equal rights and responsibilities in the management of one business. Each of the partners is having the same power and liability for the debts and obligations of the business too! However, you must remember that a partner in general partnership has the authority to enter into a contract on behalf of the partnership, signed the contract and got the partnership legally bond to the contract!
Limited Partnership
Usually, there’s a one general partner and a few limited partners. In this case, the general partner has the right to bear full personal responsibility of the business. In most of the time, the limited partners don’t participate in the management of the business. The only risk for the limited partners is their own investment in the business!
Limited Liability Partnership
LLP is an alternative to a general partnership. If you’re a partner in an LLP, then you’re not liable for the obligations of other partners. In this situation, the worst thing that can be happened on you is lose your investment in the partnership. However, you’re not responsible for the partnership’s debts or obligations at all!
By the way, I’ve something to replenish here about the web hosting stuffs that we’ve discussed earlier in the previous post. You should keep one thing in mind that RAID is one of the crucial factors, when you’re searching for the reliable web hosting.
Well, RAID is the short acronym of “Redundant Array of Independent Disks”. This technology allows the computer users to achieve high levels of storage reliability, by combining two or more hard drives together via the simple techniques of striping!
Hopefully, you’ll use the above information as a guide, especially if you’re want to involve yourself as a partner in one business.
PS: Picture thanks to airfleet.
In the last couple of days, we’ve been talking about the essential ways to start up your online business without hassle.
Today, we’re continuing our journey, by discussing the important of partnership in our business. Frankly, when I have a lunch break, I’ve used my 15 minutes to surf and browse the internet. During the surfing process, I discovered a genuine website, which is related with business directory and guide.
I’ve scoured the website for about five minutes and a light bulb is suddenly light on! My mind is crossing by with an interesting topic. It's about the partnership matter. Hence, I decided to write a post about it...
Define this word, “Partnership”. Well, most people will properly say it’s a type of business entity, which a few partners share with each other, either the profits or losses of their business. Ok, you’re partially right about it, as partnership is much more than the above statement!
For you information, there are three different types of partnerships, which as:
General Partnership
Normally, the partners in a general partnership share equal rights and responsibilities in the management of one business. Each of the partners is having the same power and liability for the debts and obligations of the business too! However, you must remember that a partner in general partnership has the authority to enter into a contract on behalf of the partnership, signed the contract and got the partnership legally bond to the contract!
Limited Partnership
Usually, there’s a one general partner and a few limited partners. In this case, the general partner has the right to bear full personal responsibility of the business. In most of the time, the limited partners don’t participate in the management of the business. The only risk for the limited partners is their own investment in the business!
Limited Liability Partnership
LLP is an alternative to a general partnership. If you’re a partner in an LLP, then you’re not liable for the obligations of other partners. In this situation, the worst thing that can be happened on you is lose your investment in the partnership. However, you’re not responsible for the partnership’s debts or obligations at all!
By the way, I’ve something to replenish here about the web hosting stuffs that we’ve discussed earlier in the previous post. You should keep one thing in mind that RAID is one of the crucial factors, when you’re searching for the reliable web hosting.
Well, RAID is the short acronym of “Redundant Array of Independent Disks”. This technology allows the computer users to achieve high levels of storage reliability, by combining two or more hard drives together via the simple techniques of striping!
Hopefully, you’ll use the above information as a guide, especially if you’re want to involve yourself as a partner in one business.
PS: Picture thanks to airfleet.
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