Partnership Types and Challenges
Partnership Types and Challenges The best partnerships aren’t dependent on a mere common goal but on shared path of equality , desire, and no small amount of passion . – Sarah MacLean Introduction A Partnership is a business owned and organized by two or more persons. Some common definitions of organization are as follows: Henry Campbell Dark's Regulation Word Dictionary states an organization is "a relationship of at least two people to continue, as co-proprietors, a business for benefit." Accounting definition: A partnership is a large business where partners share profits and losses and are jointly liable for their obligations. In "Monetary Bookkeeping," this idea is explained by Walter B. Meigs, Robert F. Meigs, and Imprint E. Bettner. Business partnerships occur when two or more people or organizations collaborate to achieve common goals. Milton Friedman and Rose D. Friedman ex