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Logan Nettles approached Kevin Lang about becoming a partner in a firm that destroys environmental waste. While Logan would like to become a partner in the firm, he is concerned about his liability because he has recently inherited a lot of money. In this situation, Logan should become a a. general partner with a majority ownership interest in the business. b. general partner with a minority ownership interest in the business. c. limited partner. d. joint venturist. e. sole proprietor.

Respuesta :

Logan should become a "Limited partner"

Explanation:

A limited partnership:

  • This is where few partners contribute financially and they are liable only to the extent of the amount that they have invested.
  • In simple, limited partners are shielded to the extent of their investment.
  • They cannot participate in management.

Example of Limited partner:

  • accounting firms
  • Medical partnerships,
  • law firms

Disadvantage:

  • Less Protection from Excessive Taxation.
  • General Partners' Personal Assets Unprotected.
  • Extensive Documentation Required.

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