A partnership is defined as an arrangement where parties agree to cooperate to advance their mutual interests. An example of partnership is doctors who share an office. Law firms and accounting firms are often partnerships.
For some information about a partnership go to the IRS gov web site and use the search box for Publication 541 go to chapter Forming a Partnership An unincorporated organization with two or more members is generally classified as a… Full Answer
The major difference between a partnership a co-ownership may be noted: 1. Mode of creation: Partnership necessarily arises from contract. But co-ownership may arise from contract or from the operation of law or from status. Business: Partnership exists for carrying… Full Answer
It's a business partnership. One or possibly more involved may not be responsible for their co partners/workers ill will or fault. Your need to check the laws in the state you are conducting a business partnership in, as each state… Full Answer
A partnership is an arrangement involving two or more persons who have agreed to undertake a business venture as co-owners, with the intent to make a profit. A joint venture is similar to a general partnership, except that it is… Full Answer