Introduction: Partnership

#) Partnership: A type of business organization in which two or more individuals pool money, skills, and other resources, and share profit and loss in accordance with terms of the partnership agreement.

*) In absence of such agreement, a partnership is assumed to exit where the participants in an enterprise agree to share the associated risks and rewards proportionately.

*) Partnerships present the involved parties with special challenges that must be navigated unto agreement.

*) Overarching goals, levels of give-and-take, areas of responsibility, lines of authority and succession

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