articles of partnership
Definition
The internal 'rule book' of a limited partnership firm; similar to the articles of association of an incorporated firm. A limited partnership consists of general partners who manage the firm and are jointly-and-severally liable for the firm's debts, and limited partners who are liable to the extent of their capital contribution. Limited partners cannot participate in the management of the firm and lose their limited liability status if the do. See also agreement of partnership.
articles of partnership is in the Corporate, Commercial, & General Law and Entrepreneurship, Management, & Leadership subjects.
articles of partnership appears in the definition of the following term: partnership agreement
This content can be found on the following page:
http://www.businessdictionary.com/definition/articles-of-partnership.html
email to a friend
print this definition
cite this definition
link to this page
