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General partnership and a limited liability company

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Can you think of any material difference between a general partnership and a limited liability company in terms of the advantages that we see in a general partnership in terms of management of the business and tax advantages? If not, can you see any reason to use a general partnership any longer when we have a limited liability company as an alternative that gives us limited liability we would not enjoy in a general partnership?

Reference no: EM131157012

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