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A position paper (sometimes position piece for brief items) is an essay that presents an arguable opinion about an issue – typically that of the author or some specified entity. Position papers are published in academia, in politics, in law and other domains. The goal of a position paper is to convince the audience that the opinion presented ...
A partner in a law firm, accounting firm, consulting firm, or financial firm is a highly ranked position, traditionally indicating co-ownership of a partnership in which the partners were entitled to a share of the profits as "equity partners". The title can also be used in corporate entities where equity is held by shareholders.
A silent partner or sleeping partner is one who still shares in the profits and losses of the business, but who is not involved in its management. [20] Sometimes the silent partner's interest in the business will not be publicly known. A silent partner is often an investor in the partnership, who is entitled to a share of the partnership's profits.
By default, each general partner has an equal right to participate in the management and control of the business. Disagreements in the ordinary course of partnership business are decided by a majority of the partners, and disagreements of extraordinary matters and amendments to the partnership agreement require the consent of all partners.
The activities of a strategic partnership can also include a shared research & development department between the partners. This requires a higher level of knowledge sharing as well as a higher level of sharing the technological capabilities. But by doing so, the costs and risks of innovation can be spread between the partners. [2]
A firm with monopoly power may be less responsive to customer complaints because it can afford to adopt a dominant position. In a business partnership a "silent partner" is one who adopts a submissive position in all aspects, but retains financial ownership and a share of the profits. [68] Two parties can be dominant in different areas.
A limited liability partnership (LLP) is a partnership in which some or all partners (depending on the jurisdiction) have limited liabilities. It therefore can exhibit aspects of both partnerships and corporations. In an LLP, each partner is not responsible or liable for another partner's misconduct or negligence.
The general partners (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.