I was referring to a legal partnership, yes. I have heard this described as a marriage with no possibility of divorce. I was at one point considering going this route in spite of vehement advice to the contrary from business professors, but the concept broke down when the prospective partner discovered that yes, I would need his tax returns for the loan application. We revised to two separate smaller businesses. A band may well be an appropriate place for this structure since yes, it really matters to the Red Hot Chili Peppers what its members do inside and outside the business. But it seems that Gel was speaking loosely, so I am just clarifying what is wrong with the idea for anyone who is wondering.
Dana On 10/16/05, Jeffry Houser <[EMAIL PROTECTED]> wrote: > > To be specific here... I believe Dana is referring to a "General > Partnership" which is a legal entity, wheras you could be financially (or > legally) responsible for anything the partner does, whether or not it is > related to the business. A "General partnership" is different than two (or > more) people incorporating a company and refering to themselves as > partners. > > Is that correct Dana? > > I would be very particular about anyone I went into a "general > partnership" with. Most bands are handled that way, though. > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Discover CFTicket - The leading ColdFusion Help Desk and Trouble Ticket application http://www.houseoffusion.com/banners/view.cfm?bannerid=48 Message: http://www.houseoffusion.com/lists.cfm/link=i:5:177261 Archives: http://www.houseoffusion.com/cf_lists/threads.cfm/5 Subscription: http://www.houseoffusion.com/lists.cfm/link=s:5 Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5 Donations & Support: http://www.houseoffusion.com/tiny.cfm/54
