Why is it advisable for partners to enter into a formal partnership arrangement?

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Why is it advisable for partners to enter into a formal partnership arrangement?

Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...
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Business in Action

ISBN: 978-0133773996

7th edition

Authors: Courtland Bovee, John Thill

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