Introduction to entrepreneurship/IENT102/Legalities/Partnership

A business that is directly owned by two or more people is generally called a partnership.

Read the section on partnerships in [[media:Business ownership comparison.pdf|Forms of Business Ownership]], to find out more about this form of business ownership and its advantages and disadvantages. You may find it helpful to complete the exercises at the end of the reading.

Note that in some countries, there are also entities called limited partnerships and/or limited liability partnerships, to which different rules apply. You are not asked to consider these for this course.