Discover what a general partnership is, its key features, unlimited liability implications, and real-world examples. Learn how partners share assets, profits, and responsibilities.

An asset is anything, tangible or intangible, that has economic value to its owner or could have economic value in the future.

A liability is a financial obligation or debt owed. Liabilities are key elements on every company’s balance sheet, and therefore, important to stock and bond investors. Learn more. In finance and ...

One of the fundamental principles of corporate law is that the owners, directors and officers of a corporate entity generally are not personally responsible for the entity’s debts. Without this ...

Many or all of the products and brands we promote and feature including our ‘Partner Spotlights’ are from our partners who compensate us. However, this does not influence our editorial opinion found ...

No one expects to be responsible for a catastrophic event that injures someone else or their property, but it happens. And it can be expensive. That’s where liability insurance comes in. Instead of ...

It wouldn’t be far-fetched to say that, as a species, we humans have a propensity – rooted in our instinctive tendency for self-preservation – toward denying anything we believe may cause us harm. It ...

Sarah Li Cain is a finance writer and a Candidate for the Accredited Financial Counselor© designation. She’s written for the Financial Planning Association, Netsuite and other notable publications.