商务英语综合教程第四册Unit 1 Business Organizations.pptVIP

6. What is Joint Venture? Joint Venture acts like a general partnership, but is clearly for a limited period of time or a single project. If the partners in a joint venture repeat the activity, they will be recognized as an ongoing partnership and will have to file as such, and distribute accumulated partnership assets upon dissolution of the entity. 7. What are the differences between General Partnership and Limited Partnership? As for General Partnership, partners divide responsibility for management and liability, as well as the shares of profit or loss according to their internal ag