Nick Wants to Start His Own Business, Consider a Sole Proprietorship? Definition of a sole proprietorship A sole proprietorship is also known as a proprietorship or sole trader. It is an unincorporated business that only has one owner that pays personal income tax on...
Introduction Various new restaurants elect to enter into restaurant partnership agreements with others. The selected partners often have the required finances and skills to steer a restaurant business towards success. Though such partnerships could be easily...
A silent partner is a person whose participation in a business is restricted to provision of capital. Further, a silent partner is hardly involved in the daily operations of the partnership. The partner is also not involved in the management and running of the...
A business partnership dissolution agreement is an agreement that is signed between partners to terminate the partnership. Hence also referred to as a termination agreement. For it to be valid, it must be signed by all the partners. When the object for which...
When the object for which the partnership was formed is achieved, a partnership dissolution agreement comes in handy. It aids in avoiding misunderstandings, settling the existing obligations of the partners, and planning on the distribution of assets among all the...
Definition of a General Partnership Agreement A general partnership agreement is a business entity where two or more persons agree to share in assets, profits and liabilities. In a partnership agreement set-up, the partners agree to unlimited liability hence the...
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