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| Topic: |
Business
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| Number of pages / Number of words: |
5 / 1294 |
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Usually, all the parties form and sign an agreement in which they will specify and share “the ownership interest, the method for distributing profits and the mean of withdrawing from the partnership†(Block & Hirt, 2005). Liability risks for partnerships are the same as for sole proprietorships except these risks spread more than a single ownership...
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Partnerships can also consist of limited liability partners who stand to lose nothing more than what they invest in the company but not making decisions. The partners allocate their profits directly and have no double taxation for the taxing purposes.
3. Corporations: this type of business has a number of shareholders with limited liability, even up to millions shareholders such as General Motors (Block & Hirt, 2005)...
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DEFINE THE ECONOMIC PARTNERSHIP AGREEMENT AND DISCUSS THE WAYS IN WHICH BUSINESSES IN THE CARIBBEAN SHOULD ORGANIZE TO TAKE ADVANTAGE OF THIS DEVELOPMENT.
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