BF10 - Principals of Business and Finance Five Types of Partners in a Business Partnership

1. https://flic.kr/p/egtSGG
TYPES OF
PartnersI n a B u s i n e s s P a r t n e r s h i p

2. https://flic.kr/p/6rWSwL
Type
Partner
Based on
 A c t i v e
p a r t i c i p a t i o n i n
t h e b u s i n e s s .
 P u b l i c k n o wl e d g e
o f t h e p a r t n e r .
 A m o u n t o f
l i a b i l i t y f o r t h e
p a r t n e r .

3. 1
https://flic.kr/p/6qpFT4
General
E v e r y P a r t n e r s h i p m u s t h a v e a t
l e a s t o n e g e n e r a l p a r t n e r .
Partner

4. 1
https://flic.kr/p/6qpFT4
General
E v e r y P a r t n e r s h i p m u s t h a v e a t
l e a s t o n e g e n e r a l p a r t n e r .
A g e n e r a l p a r t n e r a c t i v e l y
p a r t i c i p a t e s i n t h e b u s i n e s s , i s
k n o wn t o t h e p u b l i c , a n d h a s
u n l i m i t e d l i a b i l i t y .
Partner

5. 2
https://flic.kr/p/6n95uh
Dormant
A d o r m a n t p a r t n e r i s o n e t h a t i s
n o t a c t i v e l y p a r t i c i p a t i n g i n t h e
b u s i n e s s , t h e i r a s s o c i a t i o n wi t h
t h e b u s i n e s s i s u n k n o wn t o t h e
p u b l i c , b u t s t i l l m a i n t a i n s a n
u n l i m i t e d a m o u n t o f l i a b i l i t y .
Partner

6. 3
https://flic.kr/p/6qLaCU
Limited
A l i m i t e d p a r t n e r i s o n e t h a t i s n o t
a c t i v e l y p a r t i c i p a t i n g i n t h e
b u s i n e s s , t h e i r a s s o c i a t i o n wi t h
t h e b u s i n e s s i s k n o wn t o t h e
p u b l i c , a n d h a s a l i m i t e d a m o u n t
o f l i a b i l i t y .
Partner

7. 4
https://flic.kr/p/6nUtzv
Secret
A s e c r e t p a r t n e r i s o n e t h a t i s
a c t i v e l y p a r t i c i p a t i n g i n t h e
b u s i n e s s , t h e i r a s s o c i a t i o n wi t h
t h e b u s i n e s s i s u n k n o wn t o t h e
p u b l i c , a n d h a s a n u n l i m i t e d
a m o u n t o f l i a b i l i t y .
Partner

8. 5
https://flic.kr/p/6rppi8
Silent
A s i l e n t p a r t n e r i s o n e t h a t i s
n o t a c t i v e l y p a r t i c i p a t i n g i n
t h e b u s i n e s s , t h e i r a s s o c i a t i o n
wi t h t h e b u s i n e s s i s k n o wn t o
t h e p u b l i c , a n d h a s a n
u n l i m i t e d a m o u n t o f l i a b i l i t y .
Partner