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INFO: Full form for CWC is Cabot Watch Company in Business category
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INFO: Full form for CWC is Caribiner International, Inc. in Business category
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INFO: Full form for CWC is Catskill Watershed Corporation in Business category
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INFO: Full form for CWC is Community Wireless Corporation in Business category
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INFO: Full form for CWC is Cable&wire Com in Business category
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The Canadian Wood Council (CWC) was founded in 1959 and represents the Canadian wood products industry through a national federation of associations.

INFO: Full form for CWC is Call Work Code in Business category
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INFO: Full form for CWC is Cleveland Welding Company in Business category
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The Clyde Workers Committee was formed to campaign against the Munitions Act. It was originally called the Labour Withholding Committee. The leader of the CWC was Willie Gallacher, who was jailed under the Defence of the Realm Act 1914 together with John Muir for an article in the CWC journal The Worker criticising the First World War.

INFO: Full form for CWC is Clutch With a Conscience in Business category
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INFO: Full form for BSNL is Bharat Sanchar Nigam Ltd in Business category
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Franklin Electronic Publishers, Incorporated (formerly Franklin Computer Corporation) is an American consumer electronics manufacturer based in Burlington, New Jersey, founded in 1981. Since the mid-1980s, it has primarily created and sold hand-held electronic references, such as spelling correctors, dictionaries, translation devices, medical references, and Bibles. It was publicly traded on the American Stock Exchange under the symbol FEP until September 30, 2009, when it merged with Saunders Acquisition Corporation.

INFO: Full form for FEP is First Engineered Production in Business category
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INFO: Full form for FEP is Final-Evaluation Period in Business category
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INFO: Full form for FEP is Forum Energy in Business category
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INFO: Full form for FLP is Fletcher Challenge Paper Division in Business category
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INFO: Full form for FLP is Finance Leadership Program in Business category
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Family Limited Partnerships (commonly called FLPs) are frequently used to move wealth from one generation to another. Partners are either General Partners (GP) or Limited Partners (LP). One or more General Partners are responsible for managing the FLP and its assets. Limited Partners have an economic interest in the FLP, but typically lack two noteworthy rights: control and marketability. Limited Partners have no ability to control, direct, or otherwise influence the operations of the FLP. They can neither buy additional assets, nor sell existing assets, and they cannot act on the Partnership's behalf. They also substantially lack the ability to sell their interest, with one typical exception: transfers to immediate family members (spouse, siblings, and direct lineal descendants and ascendants). FLPs are partnerships limited to family members, hence the name.

FLPs are typically holding companies, acting as an entity that holds the property (business interests, real estate investments, publicly traded or privately held securities) contributed by the members. FLPs have several benefits. They allow family members with aligned interests to pool resources, thus lowering legal, accounting, and investing costs. They allow one family member, typically the GP, to move assets to other family members (often children who are LPs), while still retaining control over the assets. Because the LPs have no rights of control, they cannot liquidate their partnership interest. The timing and amounts of distributions is the sole and exclusive prerogative of the GP. That is, a distribution cannot be made to one partner (GP or LP) unless all partners receive their pro rata portion of any disbursements.

FLPs also allow for favorable tax treatment relating to the transfer of the assets, relating to the lack of control, and lack of marketability of LP interests discussed above. Taxes are paid on the fair market value of assets bought or given. Fair Market Value is the value that would be received (paid) to sell (buy) an asset between a hypothetical willing buyer and hypothetical willing seller, both acting in their own best interest and with reasonable knowledge of the relevant facts when neither is acting under compulsion.

Consider the following scenario: A father wishes to transfer $1,000,000 to his son. If the father hands the son the amount in cash, the father will have to pay gift tax on the full amount, as that is the fair market value of the property given. One million dollars is worth exactly one million dollars. Consider this second scenario: The father creates a FLP with himself the General Partner holding a 50% interest and also holds the Limited Partner interest of 50%. He contributes the $1,000,000 in cash, and then gives his son the 50% Limited Partner interest. The fair market value is not 50% of the $1,000,000 although at first it might seem this is the case. A hypothetical willing buyer of the 50% LP interest would not be willing to pay $500,000. This is due to the lack of control and lack of marketability. Someone getting $500,000 cash can do with it as they please. Someone with a partnership interest worth $500,000, but that can't be collected until the GP declares a distribution (which may be many years away) is not as desirable, and a hypothetical and savvy buyer would factor this into their calculation of what they are willing to pay. Similarly, this asset cannot be sold or converted, and as a result, is less desirable than an equivalent amount of cash or marketable assets.

If an appraisal firm is engaged and values the 50% LP interest at $400,000, reflecting appropriate discounts for lack of control and lack of marketability in compliance with IRS regulations, the grantor (the father) has only to pay gift tax on $400,000, saving his marginal tax rate times $100,000 ($500,000 cash value minus $400,000 fair market value). This savings would be reduced by any expenses incurred to establish the FLP (attorney and accountant fees) and also by the expenses incurred to hire a qualified appraiser to determine appropriate discounts for lack of control and lack of marketability.

It is important to note that while FLPs are completely legal, deliberately engaging in any practice the IRS deems to be specifically undertaken to evade paying taxes is illegal. Determination of the fair market value must be performed by a qualified appraiser, typically defined as someone certified to perform such work (either by the American Society of Appraisers, the Chartered Financial Analyst Institute, or another similar organization), someone who routinely performs this type of work as a normal course of business, and in compliance with federal and state laws, as well as generally accepted appraisal standards and the Uniform Standards of the Professional Appraisal Practice (USPAP).

FLPs should be formed as long-term family investment asset vehicles. In addition to inv reference