MBA 506: Corporate Law and Governance

Discussion Board 4

 In general partnerships, every partner has the statutory right to participate in the management of the partnership. Why do you think limited partners are prohibited from participating in the management of the limited partnership in some states?

Why do you think some states have adopted statutes that specifically provide that limited partners do not lose their limited liability status just because they participate in the partnership’s management?

A minimum of 400 words is required