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Partnership

An unincorporated business owned by two or more persons. Each partner owns a share of all assets and liabilities. Each partner may have invested in the partnership, and each receives a specified share of profits. Partners do not receive salaries, but they may withdraw money against their share of profits (unlike a sole proprietorship or a corporation).

KB ID# H_GLOSSARY_PARTNERSHIP
11/24/2017 4:55:54 AM
PPRDQSSWS804 9142 Pro 2018 7f57cf