Partnerships

Because of Pete’s fear of “going it alone,” we can take sole proprietorship out of the equation. I would advise Pete to choose the limited liability partnership. Primarily because it is pretty much just a partnership expect that an LLP partner has no liability for most LLP obligations, however, an LLP partner retains unlimited liability for his own wrongful acts. In addition, it is the preferred form of business for professionals (pg. 956). As an LLP, Pete gets exactly what he wants. Pete and…

share the profits, losses and risks based on the ownership structures described in the partnership agreement (Birt et al., 2012). The use of partnerships and its attractions can be attributed to several reasons. First and foremost, as is the case with sole trader, partnership is easy to set up with minimal costs and resources. Individuals are not required to prepare additional paperwork to form an ordinary partnership (Harris, Hargovan & Adams, 2009). However, they must fulfill the same…

Pipeline Development and Management Prior to OAI’s engagement, all of the existing Partnership Directors and the Interim Chief of Partnerships had large individuals large prospect lists, which included current sponsors, active prospects, disqualified prospects, and names of potential prospects with no current activity. Each Director managed their list separately. Directors worked towards the team revenue goal, but did not have an established individual goal. Moreover, there were no activity…

There are many choices that must be made when setting up a business but the most important question is what type of business it will be. In today’s business world there are three types of businesses sole proprietorships, partnerships, and corporations. In this paper each type of business will be explained in detail by describing advantages, disadvantages, and examples of each type of business. The first form of business is the sole proprietorship. A sole proprietorship is a business that is…

Those involved in a limited partnership are in a unique situation in that they are only legally responsible for their investment in the partnership interest. In certain companies, “the limited partner may be subject to special tax liabilities… individual limited … partners include their allocable share of partnership income or loss on their individual income tax returns and pay taxes on that share based on their tax bracket” (Entrepreneur, 2014). Corporation Tinker & Tailor’s Home Security…

Background Since 1992, Garvin-Allen Solutions Limited has distinguished itself as one of the leading Property and Casualty insurance software developers in the industry. As a solutions-based property and casualty insurance software manufacturer, Garvin-Allen has developed a proven track record in automating many traditional and specialty lines. They have established a winning process for identifying their customers’ needs and guaranteeing the results. In addition, they offer extensive…

A strategic alliance is a partnership between two or more firms to allow every enterprise to attain their strategic goals. Businesses in strategic partnership share resources, organization’s competencies, and the skilled workers until the termination of the strategic alliance. The partners in strategic alliance maintain their business status as independent and separate entity from the partnership formed. This discussion will be divided into two main components that include the merits partners…

Through ITA’s strategic partnerships, private firms work with ITA to develop an event, program, or resource, in support on increasing awareness of educational resources and export knowledge. This helps ITA educate the public on exporting, and helps private firms by educating their clients while increasing their brand presence. The Office of Strategic Partnerships is under the division of Industry and Analysis; of ITA’s three main divisions. While the Strategic Partnership program is under the…

In fact, I had taken same as this course when I was studying at King Saud University. Doubtless, the topics that I had in that course were similar to some extent to what we talked about during this semester. We were totally concentrating on the understanding of our community needs and how we bridge gaps between our museums and its audiences through reinforcing the educational role of our museums and making them more accessible for people with disabilities. Yet, today, the educational role in our…

partner that is willing to step up and take on that responsibility creates a comfortable partnership. Sometimes, one individual is better suited for a specific task than the other. From dealing with different personality types that we might encounter to deciding who has better organizational skills, having the confidence to identify how our dynamic works best would increase the potential for a great partnership. When thinking about a personality that would be most complementary to my own, I…