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partnership
(redirected from Business partnership)

    Also found in: Medical, Legal, Financial, Encyclopedia, Wikipedia 0.07 sec.

partnership

Two or more persons carrying on a common business for shared profit. The business can be of any kind – for instance, solicitors, shop owners, or window cleaners. A partnership differs from a limited company in that the individuals remain separate in identity and are not protected by limited liability, so that each partner is personally responsible for any debts of the partnership.

In a limited partnership, a general partner or partners with a limited liability manage the enterprise, while limited partners have no management rights and their liability is limited to their investment.



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? Mentioned in ? References in periodicals archive
 
Like marriage, a business partnership is a commitment that should not be taken lightly (we're using "partnership" generically, so it could include other structures such as corporations).
For better or worse--considerations for a lasting partnership by Bergerman, Samuel / SaskBusiness
Naylor and BOMA International have enjoyed a successful business partnership for years, and we are excited to building on that relationship," said BOMA International chairman and chief elected officer Kurt R.
Naylor media group joins BOMA International as Cornerstone Partner by Real Estate Weekly
Business Partnership Emerald winner Anheuser-Busch has found a way to recycle 66,000 miles of plastic label wrapping.
Emerald honors by Recycling Today
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