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Limited Partnership |
General Partnership |
Buy-Sell Agreement |
Employer-Employee Relationship |
Lender to Borrower |
Corporation |
Family Business |
Biblical Example |
Sarah and Hagar (Genesis 16:1-6) |
Jehoshaphat and Abah (2 Chronicles 1:8) |
Abraham buying land from Ephron (Genesis 23:10-20) |
Jacob working for Laban (Genesis 29-30) |
Bond-servants (Nehemiah 5:5) |
Local Church (Hebrews 13:7) |
David and Solomon (1 Chronicles 28:11-12) |
R |
What was revealed or what resources were provided? |
God has promised abundant blessings |
God gave Jehoshaphat great riches and high esteem that attracted strategic partners like Ahab |
God blessed with property rights |
God blessed with extensive livestock and other assets |
God reveled how the slaves could have freedom |
God revealed how the body of believers could be united under a clear authority structure |
God revealed plans to David and his sons |
T |
What was the purpose/mission? |
To multiply the people of God across generations |
To help people of God enjoy greater prosperity |
To expand the family's territory |
Laban sought to expand his wealth and family but God had greater purposes for Jacob. |
To rebuilt the nation of Israel |
To build the body of believers under strong leaders |
To build the temple of God |
H |
Who has legal responsibility? |
Senior Partner |
All Partners |
Seller (responsible for reps. and warranties) |
Employer |
Both parties, as defined by contract |
Board of Directors |
Father (and children?) |
Who has final authority |
Senior Partner |
No one (unless designated) |
None |
Employer |
Lender |
Board of Directors |
Father (and children?) |
E |
What are Core Values? |
See how the partnership respects authority of the leader |
See how the leader (e.g., general partner) seeks wisdom and knowledge to govern well |
See how the land deed anticipated use of the property for multiple generations |
See how Joseph honored Godly principles while working under a leader (Laban) who had questionable motives and practices |
See statutes regarding loans |
See how leaders "spoke the Word of God" and enjoyed positive results that others were inspired to imitate. |
See how the leader shared plans with guiding from the Spirit |
O |
Who pays for expenses and receives blessings? |
All Partners |
All Partners |
Seller |
Employer |
Borrower (pays P&I); Lender (may assume losses) |
Limited to corporate funds |
Family members |
S |
What happens at death of founder? |
Partnership interests pass according to provisions in documents |
Partnership interests pass according to provisions in documents |
Either a sinking fund or insurance provides capital to buy stock from family of deceased business owner |
EmpEmployment relationship employment relationship ends |
Estate usually pays money owed with only net amounts stewarded by heirs |
Successor management team assumes control |
Successor management team assumes control. Ownership passes according to buy-sell agreement or trusts |