CLASSES OF PARTNERS

1. As to contribution
a. CAPITALIST PARTNER – contribute money/property
b. INDUSTRIAL PARTNER – contribute industry, labor, skill, talent or service
c. CAPITALIST-INDUSTRIAL PARTNER – contribute cash, property and industry
2. As to liability
a. GENERAL PARTNER – liability extend to third persons
b. LIMITED PARTNER – liability to creditors only extend to their contributions
3. As to management
a. MANAGING PARTNER – actively manages the business affairs
b. SILENT PARTNER – does not participate in managing the affairs
4. Other qualifications
a. LIQUIDATING PARTNER – takes charge of winding up of affairs upon dissolution
b. NOMINAL PARTNER – not really a partner, but made liable for protection of third
persons
c. OSTENSIBLE PARTNER – active management and is known to the public
d. SECRET PARTNER – active management but not made known to the public
e. DORMANT PARTNER – not active in management and not made known to the public