Partnership

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DEFINITION of 'Partnership'

A business organization in which two or more individuals manage and operate the business. Both owners are equally and personally liable for the debts from the business.

INVESTOPEDIA EXPLAINS 'Partnership'

Partnership doesn't always mean two people. There are many large partnerships who have thousands of partners.

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RELATED FAQS
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    Revenue sharing takes many different forms, although each iteration involves sharing operating profits or losses among associated ... Read Full Answer >>
  2. What are Schedule K-1 documents used for?

    The Schedule K-1 is a tax document issued for an investment in partnership interests. The purpose of the Schedule K-1 is ... Read Full Answer >>
  3. What's the difference between publicly- and privately-held companies?

    Privately-held companies are - no surprise here - privately held. This means that, in most cases, the company is owned by ... Read Full Answer >>
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