1. Business & Finance
Partnership
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 Related Terms
• LLC
• Sole Proprietorship
 
 
Definition: A business entity owned by a more than one person often two people who share in the profits and file taxes individually.

Examples: Barb and Jane formed the partnership B & J Associates.

Common Misspellings: none

Related Resources:

Ownership Resources
Learn all about business ownership structures.

Elsewhere on the Web:

Legal Business Structures
A complete resource on various ownership types including LLC, partnership and incorporation.

Choosing A Legal Structure
This article covers the risks, tax implications, liabilities and control of various business ownership types.


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