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General Partnership Def: Partnership in wich partners share equally in both responsibility and liability.

Published on Apr 15, 2016

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General Partnership

Sergio Ochoa
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General Partnership
Def: Partnership in wich partners share equally in both responsibility and liability.

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General partnership a legal entity binding two or more business partners together

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General partnership is the basis for many legal firms and the most common type of partnership

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The intention of building a general partnership is to make some profit

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Partnerships are easy to establish and are subject to few government regulations

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Many of the same kind of businesses that operate as sole proprietorships could operate as general partnership

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Sergio Ochoa