A General Partner in a Limited Partnership has Fiduciary Duties

As we recently explained, a limited partnership is a legal business entity made up of at least one limited partner and at least one general partner. Limited partners enjoy limited liability, but are not allowed to carry out management roles, absent a written agreement otherwise. General partners are … [Read more...]

What is a Limited Partnership?

A limited partnership is a legal business entity made up of at least one limited partner and at least one general partner. Business people trying to decide which type of business entity to establish might choose a limited partnership because it offers the beneficial flexibility and tax treatment of … [Read more...]