Silent partners may prefer to invest in limited partnerships in order to insulate their personal assets from the debts or liabilities of the partnership.

Oceania

Australia

Summarising s. 5 of the Partnership Act 1958 (Vic), for a partnership in Australia to exist, four main criteria must be satisfied. They are:
* Valid Agreement between the parties;
* To carry on a business - this is defined in s. 3 as "any trade, occupation or profession";
* In Common - meaning there must be some mutuality of rights,

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