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Essay / Research Paper Abstract
A 3 page review of “Partners for Profit: From Limited Partnerships to Corporations, Forming a Successful Business Alliance Takes Time, Planning and Research,” an article published in 1998. The article is reviewed in 2 pages; the third assesses the usefulness of the article’s advice for forming business alliances in 2004. Bibliography lists 1 source.
Page Count:
3 pages (~225 words per page)
File: CC6_KSmgPartArtR.rtf
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Unformatted sample text from the term paper:
for Profit: From Limited Partnerships to Corporations, Forming a Successful Business Alliance Takes Time, Planning and Research," Williams (1998) reviews the wise route to forming formal business partnerships. There
have been many successful partnerships over the years; there also have been those that dissolved into acrimony and animosity. Williams (1998) purpose is to help would-be partners to avoid
the latter outcome. Acting with the Right Motives Williams (1998) presents several examples of actual partnerships, most of which worked well for the
people involved. She also discusses one that turned out badly, however. The authors inclusion of each example was for the purpose of demonstrating either how to approach forming
a partnership in the right way, or the consequences of not being thorough enough at the outset. Those involved in partnerships - or
contemplating forming one - should be like-minded in general business philosophy, but ideally they will have different strengths that complement each other. Williams (1998) notes that if one potential
partner abhors detail and numbers, then the other partner should count an ability in that area among his strengths, and both should agree that the one suited to the work
should be the one responsible for ensuring it is done. Williams (1998) calls on an attorney to lend credibility to a statement that
actually can stand alone. That is that all parties should agree to responsibilities and asset sharing in writing in the form of a binding contract before beginning business.
Potential partners also should consider the legal form that their partnership will take. There are several approaches that potential partners can take, each
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