Partnership
A form of business organisation that is suitable for small-scale and medium-scale businesses, and is an association of two or more individuals who jointly agree to continue business activities is known as a Partnership.
Partnership may be defined as the relation between the persons who agree to carry on a business in common with a view to private gain.
– L.H. Haney
Partnership has two or more members, each of whom is responsible for the partnership. Each of the partners may bind the others for debts of the partnership.
– William R. Spriegel
Types of Partners (Bussiness)
Business Partners come in many forms, each offering unique skills and resources that help a company grow and succeed. An organisation that is engaged in a business or a commercial activity, and is a separate unit of business is known as a Business Enterprise.
In business, choosing the right type of partnership is important for success. There are different kinds of partnerships, each with its own advantages and challenges. This article will explain the main types of business partnerships, helping you understand which one might be the best fit for your venture.
Table of Content
- Partnership
- Partner
- Types of Partners
- 1. Active Partner
- 2. Sleeping or Dormant Partner
- 3. Secret Partner
- 4. Nominal Partners
- Table: Different types of partners – Summarized
- Types of Partners- FAQs
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