Jump to content
LoriCA

Managerial titles for limited partnership

Recommended Posts

Are typically-corporate types of titles allowed in a limited partnership? For example, what restrictions might there be if we choose to call the individual who is responsible for manufacturing operations "Vice President of Manufacturing"? Does the title imply any legal "authorities" of that individual within the partnership?

Share this post


Link to post
Share on other sites

A partnership can also have officers and employees, just as any corporation.  Their titles are essentially meaningless within the organization.  However, their title may imply to persons outside the organization the individual has authority to bind the partnership to contracts and other obligations.  The principle is called "implied authority."

Share this post


Link to post
Share on other sites
4 minutes ago, RetiredinVA said:

A partnership can also have officers and employees, just as any corporation.  Their titles are essentially meaningless within the organization.  However, their title may imply to persons outside the organization the individual has authority to bind the partnership to contracts and other obligations.  The principle is called "implied authority."

Thank you! That's what I was afraid of so, presumably, we would need to define limitations of signing authorities to avoid that.

Share this post


Link to post
Share on other sites
3 hours ago, LoriCA said:

Are typically-corporate types of titles allowed in a limited partnership?

 

Allowed?  Are you asking if there's a law that prohibits the use of titles like "president," "secretary," etc. for individuals who manage the affairs of a limited partnership?  If so, the answer is no.  You can call yourself "Exalted Poobah" for all the law cares.  I agree with "RetiredinVA's" cautionary comments about implied authority.  You also might want to peruse this article to gain a basic understanding of the concept of implied/apparent authority (because your follow up comment implies that you might not understand it).

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

×
×
  • Create New...