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Limited Partnership
A limited partnership (LP) is a form of partnership similar to a general partnership except that while a general partnership must have at least two general partners (GPs), a limited partnership must have at least one GP and at least one limited partner. Limited partnerships are distinct from limited liability partnerships, in which all partners have limited liability. The GPs are, in all major respects, in the same legal position as partners in a conventional firm: they have management control, share the right to use partnership property, share the profits of the firm in predefined proportions, and have joint and several liability for the debts of the partnership. As in a general partnership, the GPs have actual authority, as agents of the firm, to bind the partnership in contracts with third parties that are in the ordinary course of the partnership's business. As with a general partnership, "an act of a general partner which is not apparently for carrying on in the ordinary c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Partnership
A partnership is an arrangement where parties, known as business partners, agree to cooperate to advance their mutual interests. The partners in a partnership may be individuals, businesses, interest-based organizations, schools, governments or combinations. Organizations may partner to increase the likelihood of each achieving their mission and to amplify their reach. A partnership may result in issuing and holding equity or may be only governed by a contract. History Partnerships have a long history; they were already in use in medieval times in Europe and in the Middle East. According to a 2006 article, the first partnership was implemented in 1383 by Francesco di Marco Datini, a merchant of Prato and Florence. The Covoni company (1336-40) and the Del Buono-Bencivenni company (1336-40) have also been referred to as early partnerships, but they were not formal partnerships. In Europe, the partnerships contributed to the Commercial Revolution which started in the 13th centur ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rome
, established_title = Founded , established_date = 753 BC , founder = King Romulus (legendary) , image_map = Map of comune of Rome (metropolitan city of Capital Rome, region Lazio, Italy).svg , map_caption = The territory of the ''comune'' (''Roma Capitale'', in red) inside the Metropolitan City of Rome (''Città Metropolitana di Roma'', in yellow). The white spot in the centre is Vatican City. , pushpin_map = Italy#Europe , pushpin_map_caption = Location within Italy##Location within Europe , pushpin_relief = yes , coordinates = , coor_pinpoint = , subdivision_type = Country , subdivision_name = Italy , subdivision_type2 = Region , subdivision_name2 = Lazio , subdivision_type3 = Metropolitan city , subdivision_name3 = Rome Capital , government_footnotes= , government_type = Strong Mayor–Council , leader_title2 = Legislature , leader_name2 = Capitoline Assemb ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Natural Person
In jurisprudence, a natural person (also physical person in some Commonwealth countries, or natural entity) is a person (in legal meaning, i.e., one who has its own legal personality) that is an individual human being, distinguished from the broader category of a legal person, which may be a private (i.e., business entity or non-governmental organization) or public (i.e., government) organization. Historically, a human being was not necessarily considered a natural person in some jurisdictions where slavery existed (subject of a property right) rather than a person. Definitions According to Maria Helena Diniz, an individual or natural person "is the human being considered as a subject of rights and obligations". Every human being is endowed with legal personality and, therefore, is a subject of law. According to Sílvio de Salvo Venosa, "legal personality is a projection of the intimate, psychic personality of each person; it is a social projection of the psychic personality ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kommanditgesellschaft
A (abbreviated "KG", ; from + ) is the German name for a limited partnership business entity and is used in German, Belgian, Dutch, Austrian, and some other European legal systems. In Japan, it is called a ''gōshi gaisha''. Its name derives from the commenda, an early Italian medieval form of limited partnership. Description Partnerships may be formed in the legal forms of General Partnership (, GbR), or specialized in trading (, OHG), or Limited Partnership (''Kommanditgesellschaft'', KG). In the OHG, all partners are fully liable for the partnership's debts, whereas in the KG there are general partners (''Komplementär'') with unlimited liability and limited partners (''Kommanditisten'') whose liability is restricted to their fixed contributions to the partnership. Although a partnership itself is not a legal entity, it may acquire rights and incur liabilities, acquire title to real estate and sue or be sued. For example, a ''Gesellschaft mit beschränkter Haftung A ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Master Limited Partnership
In the United States, a master limited partnership (MLP) or publicly traded partnership (PTP) is a publicly traded entity taxed as a partnership. It combines the tax benefits of a partnership with the liquidity of publicly traded securities. To obtain the tax benefits of a pass through, MLPs must generate at least 90% or more of their income from qualifying sources such as from production, processing, storage, and transportation of depletable natural resources and minerals. In addition, real property rents also qualify. While the "MLP" and "PTP" terms are commonly used interchangeably, MLPs are technically a type of limited partnership that conducts its operations through subsidiaries, and are not always publicly traded. While most PTPs are organized as MLPs, a PTP may be organized as a limited liability company that elects to be taxed as a partnership. History In 1981, Apache Corporation formed the United States' first MLP, Apache Petroleum Company (APC). Apache’s success d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kommanditselskab
A kommanditselskab (; abbreviated K/S) is the Danish equivalent of the limited partnership. The owners are divided into general partners (''komplementarer'' in Danish) and limited partners (''kommanditister'' in Danish). Often the only general partner of a K/S is an Anpartsselskab with the least possible capital, thus reducing the liability of the K/S to the capital of the Anpartsselskab. Liability The general partners have joint and several liability for the debts of the partnership while the limited partners have limited liability i.e. they are only liable on debts incurred by the firm to the extent of their investment. Often it is the general partners who are running the company while the limited partners acts as passive investors. Taxation of a K/S In Danish tax law a K/S is not taxable and does thus not pay corporation taxes. This means that the assets of the K/S is taxed as personal assets of the owners. This is a great advantage if the K/S is having a deficit as this c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territories, nine Minor Outlying Islands, and 326 Indian reservations. The United States is also in free association with three Pacific Island sovereign states: the Federated States of Micronesia, the Marshall Islands, and the Republic of Palau. It is the world's third-largest country by both land and total area. It shares land borders with Canada to its north and with Mexico to its south and has maritime borders with the Bahamas, Cuba, Russia, and other nations. With a population of over 333 million, it is the most populous country in the Americas and the third most populous in the world. The national capital of the United States is Washington, D.C. and its most populous city and principal financial center is New York City. Paleo-Americ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marco Polo
Marco Polo (, , ; 8 January 1324) was a Venetian merchant, explorer and writer who travelled through Asia along the Silk Road between 1271 and 1295. His travels are recorded in ''The Travels of Marco Polo'' (also known as ''Book of the Marvels of the World '' and ''Il Milione'', ), a book that described to Europeans the then mysterious culture and inner workings of the Eastern world, including the wealth and great size of the Mongol Empire and China in the Yuan Dynasty, giving their first comprehensive look into China, Persia, India, Japan and other Asian cities and countries. Born in Venice, Marco learned the mercantile trade from his father and his uncle, Niccolò and Maffeo, who travelled through Asia and met Kublai Khan. In 1269, they returned to Venice to meet Marco for the first time. The three of them embarked on an epic journey to Asia, exploring many places along the Silk Road until they reached Cathay (China). They were received by the royal court of Kublai Khan, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Qirad
The qirad (also known as Muqaradah by Hanafi and Hanbali scholars)Sapuan, Noraina Mazuin. "An evolution of Mudarabah contract: a viewpoint from classical and contemporary Islamic scholars." Procedia economics and finance 35, no. 3 (2016): 349-358. was one of the basic financial instruments of the medieval Islamic world. It was an arrangement between one or more investors and an agent where the investors entrusted capital to an agent who then traded with it in hopes of making profit. Both parties then received a previously settled portion of the profit. The agent was not liable for any losses, provided these did not exceed the capital subscribed. (In later Hanafi jurisprudence, the agent had no authority to incur liabilities in excess of the capital, and so would have to bear any further losses personally.) In modern Islamic finance, the term "Mudarabah" is used for the same instrument. "Mudarabah" is derived from "al-darb al-ard", which is mentioned in the Quran, however "Mudarab ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mongol Empire
The Mongol Empire of the 13th and 14th centuries was the largest contiguous land empire in history. Originating in present-day Mongolia in East Asia, the Mongol Empire at its height stretched from the Sea of Japan to parts of Eastern Europe, extending northward into parts of the Arctic; eastward and southward into parts of the Indian subcontinent, attempted invasions of Southeast Asia and conquered the Iranian Plateau; and westward as far as the Levant and the Carpathian Mountains. The Mongol Empire emerged from the unification of several nomadic tribes in the Mongol homeland under the leadership of Temüjin, known by the more famous title of Genghis Khan (–1227), whom a council proclaimed as the ruler of all Mongols in 1206. The empire grew rapidly under his rule and that of his descendants, who sent out invading armies in every direction. The vast transcontinental empire connected the East with the West, and the Pacific to the Mediterranean, in an enforced ''Pax Mongol ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commenda
The commenda was a medieval contract which developed in Italy around the 10th century, and was an early form of limited partnership. The commenda was an agreement between an investing partner and a traveling partner to conduct a commercial enterprise, usually overseas. The terms of the partnership varied, and are usually categorized by modern historians as ''unilateral commenda'' and ''bilateral commenda'', based on the share of contributions and profits between the partners. The bilateral commenda was known in Venice as colleganza or collegantia. The commenda has been described as a foundational innovation in the history of finance and trade. The commenda was a partnership between an investing partner (called the ''commendator'', or ''socius stans'') and a traveling partner (called the ''tractator'' or ''socius procertans''). The investing partner would provide the capital and the traveling partner would execute a commercial enterprise (generally an overseas trade), the initial capi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
