"Partnership" Definition
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 Glossary   >   P   >   "Partnership" Definition   

        Partnership

Shared ownership among two or more individuals, some of whom may, but do not necessarily, have limited liability. See: general partnership, limited partnership, and master limited 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.

Two or more people who jointly own a business. There are two types of partners, that is, general partners and limited partners. General partners are fully responsible for the debts of the business and have unlimited liability. Limited partners are liable only to the extent of their original investment and are not allowed to participate in its management.

Partnership


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Partnership - Shared ownership among two or more individuals, some of whom may, but do not necessarily, have limited liability. See: general partnership, limited partnership, and master limited 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.

Two or more people who jointly own a business. There are two types of partners, that is, general partners and limited partners. General partners are fully responsible for the debts of the business and have unlimited liability. Limited partners are liable only to the extent of their original investment and are not allowed to participate in its management.


Partnership : shared ownership among two or more individuals, some of whom may, but do not necessarily, have limited liability. see: general partnership, limited partnership, and master limited 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.

two or more people who jointly own a business. there are two types of partners, that is, general partners and limited partners. general partners are fully responsible for the debts of the business and have unlimited liability. limited partners are liable only to the extent of their original investment and are not allowed to participate in its management.