Private partnerships were wonderfully flexible but lacked the vital ingredient of limited liability: partners could lose everything they owned if the business failed.

私营合伙企业具有很好的灵活性，但缺乏有限责任的重要元素。也就是说，一旦他们拥有的企业失败，合伙人将一无所有。

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She can keep this private, of course, but the writing process itself is wonderfully beneficial.

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