A partnership, defined as a business carried out in common with a view of making profit. A partnership arises when two or more people co-own a business and then share in its profits and losses. For any business to function effectively, partnerships must be formed in order to establish everyone’s roles and their liabilities. In a partnership, each person contributes something to the business i.e. capital, ideas, property as well as personal liability. There are numerous forms of partnerships available to business owners. In this article we’ll look at what makes up a few of these partnerships. GENERAL PARTNERSHIPS (GPs) General … Continue reading TYPES OF BUSINESS PARTNERSHIPS