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- nounpartnership (noun) · partnerships (plural noun)
- the state of being a partner or partners:"we should go on working together in partnership"
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- The legal definition of a partnership is1234:
- An association of two or more persons to carry on as co-owners a business for profit.
- A legal arrangement that allows two or more people to share responsibility for a business, including ownership, profits, work, responsibility, and potential losses.
- A business structure through which two or more people can operate a business as partners.
- A business with more than one owner that hasn't filed papers with the state to become a corporation or limited liability company (LLC).
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.The legal definition of a partnership is generally stated as "an association of two or more persons to carry on as co-owners a business for profit" (Revised Uniform Partnership Act § 101).legal-dictionary.thefreedictionary.com/partnershipA partnership is a legal arrangement that allows two or more people to share responsibility for a business. Those partners share the ownership and profits, but they also share the work, responsibility, and potential losses.www.investopedia.com/terms/p/partnership.aspA partnership is a legal structure through which two or more people can operate a business as partners. A partnership structure is often used by professional service businesses such as law, accounting, management or architectural firms. A partnership agreement is the main document needed to operate a business under a partnership structure.legalvision.com.au/partnerships/A partnership is a business with more than one owner that hasn't filed papers with the state to become a corporation or limited liability company (LLC). The partnership is the simplest and least expensive co-owned business structure to create and maintain.www.nolo.com/legal-encyclopedia/partnership-basi… Partnership legal definition of partnership
A partner is an agent of the partnership. When a partner has the apparent or actual authority and acts on behalf of the business, the partner binds the partnership and each of the partners for the resulting obligations. Similarly, a partner's admission concerning the partnership's affairs is considered an admission … See more
The formation of a partnership requires a voluntary "association" of persons who "coown" the business and intend to conduct the business … See more
Each partner has a right to share in the profits of the partnership. Unless the partnership agreement states otherwise, partners share profits equally. Moreover, partners must contribute equally to partnership losses … See more
A partner may contribute Personal Propertyto the partnership, but the contributed property becomes partnership property unless some other arrangement has been negotiated. Similarly, if the partnership … See more
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partnership | Wex Legal Dictionary / Encyclopedia | LII / Legal ...
WEBAccording to New York Partnership Law, a partnership is a voluntary, contractual association between two or more parties to carry out business for-profit as co …
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26 U.S. Code § 7701 - Definitions | U.S. Code | US Law | LII / …
WEBThis section of the U.S. Code defines the term "partnership" and its components, such as "partner", "corporation", "domestic", and "foreign", and provides examples of their usage. …
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WEBJan 14, 2024 · A partnership is a legal arrangement that allows two or more people to share responsibility for a business. Those partners share the ownership and profits, but they also...
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WEBA partnership is a business with more than one owner that hasn't filed papers with the state to become a corporation or limited liability company (LLC). The partnership is …
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Partnerships Law and Legal Definition | USLegal, Inc.
WEBA partnership is an association of two or more people to carry on as co-owners of a business for profit. There are general partnerships, limited partnerships, and limited …
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WEBFind the legal definition of PARTNERSHIP from Black's Law Dictionary, 2nd Edition. A voluntary contract between two or more competent persons to place their money, …
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WEBApr 23, 2023 · LibreTexts. Learning Objectives. By the end of this section, you will be able to: Describe the importance of partnership. Understand partnership history. Identify …
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WEBA Partnership Agreement is a formal contract between 2 or more parties to run a business, share profits, and manage it. Learn more about how they work.
Partnership - Entrepreneur Small Business Encyclopedia
WEBPartnership Definition: A legal form of business operation between two or more individuals who share management and profits. The federal government recognizes …
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WEBOct 15, 2022 · A business partnership is a legal relationship that is most often formed by a written agreement between two or more individuals or companies. The partners invest their money in the business, and …
What Is a Domestic Partnership? - FindLaw
WEBMay 25, 2023 · A domestic partnership is a legal or personal relationship between two people who live together and share a common domestic life but are not married. …
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WEBAug 14, 2023 · A general partnership is a business arrangement by which two or more individuals agree to share responsibilities, assets, profits, and financial and legal...
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WEBMar 27, 2022 · A partnership agreement is a legal document that dictates how a small for-profit business will operate under two or more people. The agreement lays out …
limited partnership | Wex | US Law | LII / Legal Information Institute
WEBLimited partnership (LP) is a type of partnership organization that limits the personal liability of some partners. In general partnerships, every partner remains personally …
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WEBPartnerships are unincorporated businesses with two or more owners (partners) who contribute in various ways (capital, labor, etc.) and may have legal liabilities. A written …
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WEBConnect with a Fitter Law Attorney. More Legal Dictionary. Learn about the legal definition, benefits, and considerations of a general partnership. Discover how this business …
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WEBJul 20, 2016 · A domestic partnership is a legally recognized relationship in which two people who live together like a married couple, without being married to each …
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WEBJul 3, 2019 · Firstly, a partnership is a relationship based on a contract between two or more people. “The relation between members of a company is expressly excluded …
Partnership Definition & Meaning - Merriam-Webster
WEB1. : the state of being a partner : participation. scientists working in partnership with each other. 2. a. : a legal relation existing between two or more persons contractually …
Partnership | business.gov.au
WEBJan 18, 2024 · A partnership is a business structure made up of 2 or more people who distribute income or losses between themselves. Learn about the key elements of …
Partnership Divisions: Tax Treatment | Practical Law The Journal …
WEB5 days ago · This means that the legal form of the transaction is a transfer of assets from an existing partnership to its partners (with the partners treated under applicable law as …
Partnership | Practical Law
WEBThe relationship which subsists between two or more persons carrying on business in common with a view to profit. Partnerships are governed in the UK by the …
What is a partnership? - HMRC internal manual - GOV.UK
WEBA partnership is defined in S1 (1), Partnership Act 1890, as ‘the relation which subsists between persons carrying on a business in common with a view of profit’....
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