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The criteria for a partnership typically include a formal agreement between two or more individuals who share management responsibilities and profits, with each partner being personally liable for the business's debts. In contrast, a public company is characterized by its ability to sell shares to the public through stock exchanges, requiring compliance with regulatory standards, transparency in financial reporting, and governance structures. While partnerships are often flexible and less formal, public companies must adhere to strict legal and financial regulations to protect shareholders.

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5mo ago

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