Legal Question in Business Law in Bangladesh
we are planning to start a partnership business by 4 person in equal share (25%) each. Can we declare one of us as CEO? what about other's designation for three? in this case is it logical to use the designation as " Directors" for others three? please answer me little in details.
Asked on 3/18/12, 8:35 pm
1 Answer from Attorneys
Adnan Karim, Barrister
Temple Court Chambers (Dhaka Annexe)
In a partnership, the person managing the business is usually known as managing partner and the others are known as partners. Calling some one a director is not appropriate for a partnership since it is applicable for a company. A person may be called a CEO but it is better to designate him as managing partner.
Answered on 3/23/12, 2:02 am
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