My question is about Limited Partnerships as an Investment Company.
Lets say I was a General Partner of an L.P. I incorporated in Delaware
I have 3 Limited Partners, each of whom has given me 20k+ with the agreement that I will use my savvy to invest, which will result in them collecting profits or accepting losses annually.
The agreement being that I will use the money to invest in stocks, real estate, private companies or any combination of those.
Do I need any financial licenses (Series 7, 63 etc) to operate a small L.P. like this?
1 Answer from Attorneys
Any attorney will say a review of all facts, documents, etc. is required. After that, a personal consultation is needed. This is not a simple bulletin board type question. Consult with an attorney in your area for specifics.
Kevin B. Murphy, B.S., M.B.A., J.D. - Mr. Franchise
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