What are the parnership types?

What are the parnership types?

What are the parnership types?

par INES OUAMANE,
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Types of Partnerships:

 

1. General Partnership (GP) – Partners share management and liability.

 

 

2. Limited Partnership (LP) – One general partner is liable, while limited partners contribute capital only.

 

 

3. Limited Liability Partnership (LLP) – All partners have limited liability.

 

 

4. Limited Liability Limited Partnership (LLLP) – A hybrid of LP and LLP with additional liability protection.

 

 

5. Joint Venture (JV) – A temporary partnership for a specific goal.

 

 

6. Nominal Partnership – A partner lends their name to the business without financial liability.

 

 

7. Partnership at Will – An indefinite partnership that can be dissolved at any time.

 

 

8. Industrial Partnership – A partner contributes expertise or labor instead of capital.