University of Maryland Extension

general partnership

Using a Business Organization Structure to Limit Your Farm's Liability

In Maryland, 82.7 percent of agricultural operations conduct business as sole proprietorships (Census of Agriculture, 2012). As agriculture continues to evolve, however, producers should consider investigating all types of business organization structures for their operations to limit liability and...

Partnerships Need a Plan for Winding Down Affairs

Photo by Edwin Remsberg This post is not legal advice Earlier, I posted on family limited partnerships , I'm continuing the theme today with what happens when a general partner passes away. For example, father and son start a general partnership to run the farm. This partnership will continue till...

Let’s Partner Up: General Partnership Overview

Photo by Edwin Remsberg
This post should not be relied upon as legal advice Today we continue our series on business organizations and look at partnerships. A partnership is a separate legal entity created by two or more individuals (“partners”) who each contribute capital, equipment, and skills and share in profits and...
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