Corporate Blawg has been very busy these last few weeks, and due to sleep depravation or alcohol intoxication, one way or another his journey home has looked much like the Corporate Pic in this corporate post.
Corporate Blawg has spent much of his precious time drafting and thinking about limited partnerships under the Limited Partnership Act 1907 (the same year that the first hackney carriages ran with meters in London), and the Partnership Act 1890 (the same year Van Gogh shot himself in the chest and died two days later).
These solid acts are still in force and mighty in their effect. Corporate Blawg understands that the Law Commission is considering clarifying various issues from these ancient and historic acts. This is because Limited Partnerships have found themselves a new(ish) lease of life in relation to their use for private investment funds. It is in the setting up of such an investment fund that Corporate Blawg has been largely pre-occupied with his Limited Partnership Agreement, and all such ancillary documentation.
An interesting legal nugget of the limited partnership world is that a limited partnership differs from a partnership in that a limtied partnership has a "general partner" and one or more "limited partners". The limited partners are only liable in so far as the amount they contribute to the capital of the partnership, and the general partner is liable for all the debts and obligations of the partnership. If the limited partner gets involved in the management of the company in any way whatsoever, the limited partner becomes liable for all the debts and obligations too. So stay well clear limited partners! For now, that is all Corporate Blawg has to say on the matter.
Corporate Blawg has been inspired by his fellow bloggite Ruthie's escapades, and has decided to head off into the wilds today to go clay pigeon shooting in the rain. Corporate Blawg hopes that he will not lose any digits in the process as it may slow down his lightning-like typing skills. Nevertheless Corporate Blawg is keen to get out there and show those bits of clay his fire power; and Corporate Blawg hopes that he will not have his liver eaten out by vultures in consequence. (Corporate Blawg apologises for the tortured literary reference).