The Partnership Sublibrary provides documents that can be used by the parties to negotiate and establish various types of partnership relationships. These relationships include joint ventures for the development and sharing of technology, as well as general partnership and limited partnership frameworks. Partnerships are subject to state law, and special tax provisions apply to Partnerships. Parties should also be aware that liability exposure for partners is generally greater than shareholder liability exposure in a corporation. Considerable caution should be exercised in negotiating these arrangements, and consultation with local counsel is advised.
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