Definition

A form of partnership in which each partner is a co$-$owner of the business, with

Term

all the privileges and risks of ownership.

A form of business organization that is neither a partnership nor a corporation but combines the advantages of both.

The contract between partners.

The ending of a partnership.

A business with two or more owners that is not organized as a corporation.

A partnership with at least two classes of partners: one or more general partners and one or more limited partners.