What exactly is a Business Partnership? In simple terms, a business partnership is a formal legal relationship wherein a written agreement is signed between two or more people or entities. Once the partnership agreement is signed, each partner finances the enterprise and bears part of any profits, while the other partner shares in the losses and incurs expenses. Partners normally control and manage their business on behalf of the other partner. It can either be an extensive business network or a limited one, with the goal of increasing profits like companies as UniquePharmaCeuticals.com
Most partnerships are established to accomplish several common tasks or goals. For example, some partnerships may exist to undertake a particular project, like starting a new venture, or expand an existing one. Many also aim at creating additional cash flow by forming joint ventures, acquisitions of assets or property, etc. Others may seek to achieve certain set goals like reducing costs or maximizing revenue, while others may be formed to address various social issues or pressing challenges faced by society. The ultimate aim behind all these partnerships is the creation of a socially just, environmentally sustainable and balanced business entity.
There are basically two types of partnerships namely general partners and limited partners. In a general partnership, all the partners share in the profits with the general partner acting as the principal. The income of each partner is limited to the value of the capital contributed by him. On the other hand in a limited partnership, only the general partner has access to the profits of the partnership and the limited partners are paid only if they attain a profit from websites that start with online viagra bestellen.