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Pia Bertone & Felipe Gonzalez
Partnership Definition
A partnership is a group of association of at least two people who agree to own and run a business together.
The partners will contribute to the capital of the business, will usually have a say in the running of the business and will share any profits made
Disadvantages
Advantages
-More capital to invest
-Tasks and
responsibilities are
divided between
partners
-Motivation from
partners
-Unlimited liability
-No separate legal
identity (no
continuity)
-decisions may take
time
-inefficiency or lack of
honesty from one
partner
Private and public sector
Partnership, is in the private sector because is not direct state control