Branden Round: Feeling Mutual gave you a good answer based on the understanding of your question, which is poorly stated. I will add:A corporation can be a partner of a business. Usually in such an arrangement, the corporation is a general partner and individuals are limited partners. The corporation is liable for all the liabilities of the partnership.Corporations sometimes join in partnership with other corporations of with individuals. The partnership may be limited to a specified life, or may continue in existence until a the partners agree to terminate the business or a living partner dies. When a partner of a partnership dies or becomes bankrupt, the partnership ceases to exist....Show more
Lashawn Zabarkes: A partnership is not a corporation.A corporation is a seperate entity that is owned by the shareholders. Typically, shareholders are not liable for the debts of the corporation.It's life is perpetual.Taxes vary with the state and federal tax filings.A Limi! ted Liability Company is a variation of a corporation (technically not a corporation), with less formal management responsibilities....Show more
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