Resource title

Partnership

Resource image

image for OpenScout resource :: Partnership

Resource description

In the words of the Uniform Partnership Act, a partnership is "an association of two or more persons to carry on as Co-owners of a business for profit." The essential characteristics of this business form, then, are the collaboration of two or more owners, the conduct of business for profit (a nonprofit cannot be designated as a partnership), and the sharing of profits, losses, and assets by the joint owners. A partnership is not a corporate or separate entity; rather it is viewed as an extension of its owners for legal and tax purposes, although a partnership may own property as a legal entity.

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Resource publisher

Resource publish date

Resource language

en

Resource content type

text/html

Resource resource URL

http://www.referenceforbusiness.com/small/Op-Qu/Partnership.html

Resource license

Copyright © 2011 Advameg, Inc.