What is A Partnership?

Описание: In business, a partnership is an arrangement where two or more persons share the profits according to agreements. Partners are collectively co-owners of the enterprise and also contribute to the capital of the business.
partnership structure was designed to spur growth in small businesses. Unlike limited companies, a partnership structure tends to have lesser obligations like simpler accounting standards.
Even if one partner has made significantly more efforts compared to other partners, the profits would be shared as per the partnership agreement.

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