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Partnership agreement |
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Partnership agreementA written agreement among partners detailing the terms and conditions of participation in a business ownership arrangement.Partnership agreement Similar MatchesPartnershipPartnershipShared ownership among two or more individuals, some of whom may, but do not necessarily, have limited liability with respect to obligations of the group. See: General partnership, limited partnership, and master limited partnership. PartnershipPartnershipTwo or more people who jointly own a business. There are two types of partners, that is, general partners and limited partners. General partners are fully responsible for the debts of the business and have unlimited liability. Limited partners are liable only to the extent of their original investment and are not allowed to participate in its management. General partnershipGeneral partnershipA partnership in which all participants are general partners. Limited partnershipLimited partnershipA partnership comprising a general partner and limited partners. The general partner operates the partnership and is fully liable for the debts of the firm. Limited partners receive some of the profits and have no influence in management. However their liabilities are limited to their original investment. Private limited partnershipPrivate limited partnershipA limited partnership with no more than 35 participants that is not registered with the SEC. Further SuggestionsResearch and development limited partnershipVenture capital limited partnership Equipment leasing partnership Master limited partnership (MLP) Resyndication limited partnership Income limited partnership Limited partnership Public limited partnership |
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