A general partnership is an association of two or more people who agree to carry on a business as co-owners for a profit. The general partnership is a very flexible form of enterprise. State partnership statutes provide default rules pertaining to management rights and the calculation of each partner’s share of profits and losses. However, the partners in a partnership agreement are generally free to change these default provisions by agreement.

Learn more via the recently completed 4-page, 4-color RISK CONCEPTS series, covering seven common forms of business ownership, including the General Partnership.
Several RISK CONCEPTS bulletins covering alternative forms of business structure were recently posted and are available for download at: RightRisk.org/riskconcepts.

 
Enterprise Risk Analysis is an internet-based course including: 1) Self-study materials covering- What is an Enterprise, What is Risk, What is Risk Management, How is Risk Managed, Risk Management Process, Establishing Context, Enterprise Assessment, Risk Analysis, Risk Evaluation, Treatment Implementation, Case Study: Everett Ball Ranch, Case Study: Wilson Ranch, Resource links for further research. 2) Recorded webinar; 3) eBook document for further study; and many other features.

The Enterprise Risk Analysis course is available free of charge at RightRisk.org > Courses.

 
Limited Liability Partnerships (LLP) are a general partnership where all partners have limited liability as to other partner’s debts and liabilities due to misconduct. Except for a very few special provisions, it is subject to the same rules as a general partnership. There are four primary differences between LLPs and general partnerships: (1) they are formed in different ways; (2) they may have different requirements concerning insurance or financial responsibility; (3) specific steps may need to be taken in order to maintain LLP status; and (4) the liability of general partners is significantly different.

Learn more via the recently completed 4-page, 4-color RISK CONCEPTS series, covering seven common forms of business ownership, including the Limited Liability Partnership.

Several RISK CONCEPTS bulletins covering alternative forms of business structure were recently posted and are available for download at: RightRisk.org/riskconcepts.

 
Risk Scenario Planning: Evaluating Risk and Risk Management Strategies is a two-hour, internet-based course with topics covering: An Introduction to Risk, Risk Strategies, Case Study: Gates Creek Land & Livestock, Case Study: Big Country Farms, Case Study: Bell Livestock, Case Study: Z-F Ranch, Risk Scenario Planning Tool Overview, Expectations About the Future, Risk Management Framework, resource links for further research, and many other features.

The Risk Scenario Planning course is available free of charge at RightRisk.org > Courses.

 
Limited Partnerships are partnerships with at least one general partner and at least one limited partner. They can only be formed by filing a written document which names the partners. The biggest distinctions between general and limited partnerships have to do with management rights and limited liability of the limited partners. The Revised Uniform Limited Partnership Act established this business structure and provides the regulations for creating, operating, and dissolving limited partnerships.

Learn more via the recently completed 4-page, 4-color RISK CONCEPTS series, covering seven common forms of business ownership, including the Limited Partnership.

Several RISK CONCEPTS bulletins covering alternative forms of business structure were recently posted and are available for download at: RightRisk.org/riskconcepts.

 
Understanding Risk in Agriculture is an internet-based module including: 1) Self-study materials covering- What is risk, Does Risk Matter, Can Risk be Managed, What Are Challenges to Managing Risk, When is Risk Analysis Justified, How are Risky Choices Evaluated, How is Risk Included When Making a Decision, and Conclusion. 2) Recorded webinar- Posted presentation slides, Posted Introduction, Posted URIA – the first four segments, Posted URIA – the last three segments, Posted Q&A session; all in video and audio-only formats; 3) eBook document for further study; and many other features.

The Understanding Risk In Agriculture module is available free of charge at RightRisk.org > Courses.