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General Partnership Legal Articles

The agreeing parties consent not to disclose information covered by the agreement. This is to protect confidential and proprietary information or trade secrets; as such NDA creates a confidential relationship...     read more


Partnerships have two basic types, a general partnership and a limited partnership. A general partnership is the simplest and less costly co-owned business structure to create and maintain. In a general...     read more


Q: Can I refuse to hire people who smoke? A: No. You can ban smoking during work hours; however you cannot prohibit the use of lawful products during nonworking hours. Q: May I call an applicant's...     read more


Entrepreneurs are the lifeblood of the American economy. Small businesses make up 99% of all businesses, employ half of all private sector employees, and have generated two thirds of new jobs in the last...     read more


One drawback is that all partners are subject to personal liability for all debts, losses, and liabilities of the partnership. Each partner is also generally liable for every other partners' actions on...     read more


An employee manual also communicates important state and federal laws surrounding employment. It puts these items into a clear and concise written document. The employee handbook or manual needs to clearly...     read more


Advantages of a Partnership Structure • Profits go straight into the partners' pockets, providing for easier tax reporting • Partners can combine their individual talents to complement each other...     read more


How Partnership Income is Taxed The IRS does not consider partnership to be separate from the owners when it comes to tax purposes, rather, they are considered "pass through" tax entities. All profits...     read more


The Fair Labor Standards Act mandates the federal minimum wage and includes requirements for overtime and how many hours employees can work. You also need to make sure your compensation structure and workplace...     read more


Expenses of Operating a Business Starting a business involves expenses on utilities, office supplies, repairs and advertising. This can be deducted as current business expenses as long as you already...     read more


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