What are the disadvantages of forming a Partnership?

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Business Law FAQ

Q.    What are the disadvantages of forming a Partnership?

A.    All partners are personally liable for the debts and obligations of the partnership. A limited liability partnership can be formed to shield an individual partner from personal liability arising out of the negligence and omissions of other partners and employees not under his direct control or supervision. However, that partner is still personally liable for his own wrongdoing as well as that of employees under his direct supervision.

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