Question

Discuss the differences and similarities between these two business forms :

1.Similarities and differences between limited partnership in USA vs Limited partnership in Lebanon

2. Similarities and differences between Sole proprietorship in USA vs. Establishment in Lebanon

Answer 1

Ans to Q No. 1:
Similarities between limited partnership in USA vs Limited partnership in Lebanon are as follows:

a) Limited partnership in both countries consists of General partners and silent partners.

b) General partners look after the management of the company while limited/silent partner's role is limited to financial investments.

Differences between limited partnership in USA vs Limited partnership in Lebanon are as follows:

a) In Lebanon, the limited partner's liability is limited only to their investment. However, in the USA, debts of the limited partnership are the sole responsibility of the partnership.

Ans to Q No. 2:

Similarities between Sole proprietorship in USA vs. Establishment in Lebanon

a) Sole proprietorship in the USA and Establishment in Lebanon can both be opened by individuals.

Differences between Sole proprietorship in USA vs. Establishment in Lebanon

a) Sole proprietorship in USA doesn't need to be registered whereas Establishment in Lebanon need to be registered.