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Field Law
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What is a partnership?

It is an association of persons or an unincorporated business that is created by agreement, either an oral or written agreement, where the partners intend to make a profit. One of the major concerns of a partnership is that the partners are subject to unlimited liability for any legal actions or debt related incurred by the partnership.  While there are different types of partners, a partnership is not necessarily a good place to begin when forming a business.