Business 6 Elements

    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