Maria and Sylvia have always wanted to start their own restaurant business and be an entrepreneurs. As entrepreneurs, they must decide whether the business should operate as a general partnership or as a limited partnership. There's two examples down below please respond to both examples. Which statement do you agree with and which statement you don't agree with and why ? Example 1: "Dia" : I believe Maria and Slyvia should operate their business together as a general partnership. That way in a general partnership they both have individual duties but still own the business together. They make decisions together. Nothing will get done without the other's consent. They can both put up the same amount of money. Both be 50/50 partners if that's what they want to do. A limited partnership is more for investors and silent partners. They do not have any have management responsibilities and they do not take part in day-to-day activities. They have less liability. I believe they would need another partner. It needs to be more people if both Maria and Slyvia decide to be limited partners because if that's so, who's running the business. I never heard of silent partners running a business. A limited partnership holds no value. You can't really make decisions. Thats just like a silent investor. They would have to raise capital and find more people to silently invest. As a general partner you can negotiate terms if they don't fit how you see the business. As a general partner you can decide on whatever you want, change whatever you want, operate the business however you want. Being limited just does not give you that option and unless you want to add more individuals, I would just suggest doing a general partnership. Example 2: "Ida" I feel that Maria and Sylvia should be general partners mainly because to be general partners they will be able to run the business and each will have an idea of what each other is responsible for but at the same time they will be working side by side and will be able to handle all problems that arises together. Maria and Sylvia is in this business together so therefore they should have to endure all the actions of the company as a team. See if the company is sued or enters into bankruptcy, all debts and liabilities are the responsibility of the general partner. And this partnership typically dissolve when one partner dies, becomes disabled, or exists the partnership.General partners are two or more persons engaged in a business for the purpose ofjoint profit, thereby creating a general partnership. General partners assume unlimited joint and several personal liability; as such, a general partner may be personally liable for the actions of other general partners. This the reason I feel that Maria and Sylvia should have a general partnership. Partners should take the good with the bad and learn together how to run a business and that way they will succeed if they ever try again. Which I is the better choice? General Partners To look at the limited partnership limited partners get the benefit ofprotection from personal liability. This means that a limited partner can't be forced to pay off business debts or claims with personal assets. A limited partner, however, can lose his or her financial investment in the business