Real Estate Glossary

What is Partnership?

Partnership - A partnership is a type of business structure in which two or more individuals or entities come together to operate a business. It can be a general partnership, where all partners manage the business and share in the profits and losses, or a limited partnership, where some partners are only passive investors and do not participate in the management of the business. Partnerships are typically created by a partnership agreement, which outlines the rights and responsibilities of each partner.

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