Partnership

A Partnership is created, without filing anything with the state, when two or more individuals go into business for profit. Partners are personally liable for all of the partnership’s debts and liabilities, but the partners receive the benefit of pass through taxation. Partnerships are rarely intentionally created now because of other limited liability options that exist.

Mo’ Founders Mo’ Problems – Another Vote for Well Drafted Partnership Agreements Avoid Partnership Perils…Spell it Out Up Front!

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