On Mon, 04 Sep 2000, TOMorrow wrote:
> Most notably, for present purposes, each owner of a
> partnership (i.e., each partner) shares an equal right to control the
> business organization. Someone who merely contributes money would probably
> not qualify as a partner. He/she would more likely qualify as a creditor.
Most locales recognize what you are describing as a "Limited Partner"
under the law. A limited partner is essential an investor that owns a
percentage of a Partnership, but who is not actively involved in the
business and therefore has no liability. Limited partners who do actively
involve themselves in the business of the partnership are usually
adjudicated as in fact being General Partners under the law, and can
therefore be held liable.
-James Rogers
jamesr@best.com
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