Discussion 1.

1 Partnership Basic Concepts

In our conference, I discussed the differences between General Partner and Limited Partner. I told you
that "All Limited partners are Capitalist partners but not all Capitalist partners are Limited partners. All
Industrialist partners are General partners but not all General Partners are Industrialist partners."

Explain the phrase and give an insight about it from our previous conference.

"All limited partners are capitalist partners", as the phrase implies, because all limited partners can only
contribute property and money they cannot share their skills and knowledge, just like a capitalists
partners. While for the phrase "not all capitalist partners are limited partners", this is due to the fact
that a general partnership can also contribute a property or money, therefore we can not just assume
that all capitalist partners are limited partners.

"All Industrialist partners are General partners but not all General Partners are Industrialist partners".
"All Industrialist partners are General partners". An Industrialist partners they can only contribute their
skills and knowledge he can also manage the organization, just in a general partnership wherein he can
manage and and apply their skills in a partnership. But then "not all General Partners are Industrialist
partners" because a general partners can also contribute money and property in that case we cannot
say that all general partners are industrial since they can be also a capitalist.