What are the requirements, if any, for a Partnership in California to be formed and/or registered...

What are the requirements, if any, for a Partnership in California to be formed and/or registered , similar to what a corporation must do?

Expert Solution

If two or more persons are joined together to do any legal businesses for the objective of earning profit then such business is partnership. There are two types --- general partnership, and limited partnership.

General partnership: All partners have equal unlimited liability, equal sharing, and equal responsibility, for running the business.

Limited partnership: At least one partner is a general partner and all other partners are having limited liability (up to the extent of their investment in the business).

Requirements: In the state, a separate certification through registration is required for limited partnership business. Such business may be registered in another state but that certificate is not recognized in the state-C; a fresh certificate is required there by fulfilling registration formalities.

In case of forming a corporation, the articles of incorporation must be filed to the secretary of the state. All the statutory requirements (like business objective, authorized share capital, etc) must be fulfilled during this course.

Rahul Sunny answered 2 years ago

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