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Partnership

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

Definition

Advantages & Disadvantages

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

Private and public sector

Partnership, is in the private sector because is not direct state control

Examples

  • Warner Bros ( Sam Warner, Jack Warner, Albert warner and Harry Warner)
  • McDonald's ( Richard and Maurice McDonald's)
  • Apple ( Steve Jobs and Steve Wozniak

Examples

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