General partnership

Question 1

Where do you register a General Partnership (brokerage)?

Answer 1

The DOS (Department of State) and the DBPR

Question 2

In a general partnership, how are the shares between partners divided?

Answer 2

Equal shares in profits and losses unless written agreement specifies otherwise

Question 3

In a general partnership, who is liable for damages?

Answer 3

All general partners are joint and severally liable for damages

This means that each partner can be held responsible for the entire amount of damages.

Question 4

In a general partnership, what is the minimum amount of active brokers?

Answer 4

At least one of the partners needs to be an active broker