Partnerships

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  • Created by: Rachelle
  • Created on: 24-04-13 13:41

Partnershpis

Advantages

  • More capital available for expansion
  • Shared responsibilities
  • Specialist help, division of labor
  • Profits + losses shared

Disadvantages

  • Unlimited liability
  • No separate legal identity
  • Discussion takes moe time
  • Dishonest partners create losses
  • Capital limited to 20 partners

Evaluation

Group/association run by 2-20 people
Partners contribute to capital of business, make decisions, share profits.
Partnership Agreement/Deed of Partnership
Capital invested by both partners
Tasks each partner undertake
Profit shared
Length of partnership
Agreements for absence, retirement, recruits.

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