You are your best friend are looking to open a small coffee shop business within your community, which will be formed as a partnership. However, you and your friend have different talents and skills. Therefore, you must create a partnership agreement before seeking a small business loan.

1. You are the general partner. First, list your three best talents and skills that will contribute to the success of the coffee shop. Then, for each, describe how the coffee shop could benefit.
2. Your friend is the limited partner. First, list your best friend's three best talents and skills that will contribute to the success of the coffee shop. Then, for each, describe how the coffee shop could benefit.
3. Based on the six skills and talents listed, what may be the long-term impact of how the work duties are assigned and performed? Explain your answer.