general partnership

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Partnership Definition A partnership is a type of business organization. Two or more individuals own and operate this business organization. These individuals are partners. Furthermore, it is unincorporated. Although it is not considered a legal entity separate from its owners, the details of this arrangement are stipulated in a contract. Call that contract a partnership

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Limited Partnership

Limited Partnership Definition A limited partnership is a private or public business owned by two or more partners, including both general partners and limited partners. In this type of partnership, the partners share the profits and losses of the business as stipulated in a predetermined agreement. The general partners share the management and control of

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General Partnership

See Also: Sole Proprietorship Partnership Limited Partnership S Corporation Tips on How to Manage your Lawyer General Partnership Definition A general partnership, defined as a private business owned by two or more general partners, is one of the most common legal entities which do business. Furthermore, it is unincorporated. General Partnership Explanation A general partnership,

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