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What are the different types of partnership arrangements?

There are several types of partnership arrangements. In a general partnership, all partners share liabilities and profits equally. In other types of partnerships, profits may be shared in different percentages or some partners may have limited liability.

What is a business partnership?

A business partnership is a way of organizing a company that is owned and sometimes run by two or more people or entities. The partners share in the profits or losses. Before you establish a business partnership, you should investigate the various types of partnerships that are available and how each of them works.

What is a partnership & how does it work?

A partnership is a business with more than one owner that hasn't filed papers with the state to become a corporation or limited liability company (LLC). The partnership is the simplest and least expensive co-owned business structure to create and maintain. You can form three basic types of partnerships.

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