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A partnership is an agreement where parties agree to cooperate to advance their mutual interests. The partners in a partnership may be individuals, businesses, interest-based organizations, schools, governments or combinations. Organizations may partner to increase the likelihood of each achieving their mission and to amplify their reach.
A partnership is owned by its partners and is easier to establish and maintain. Partnerships and some corporation types are pass-through entities, which means they avoid double taxation.
By default a partnership will terminate upon the death, disability, or even withdrawal of any one partner. However, most partnership agreements provide that in these types of events, (1) the share of the departed partner usually remains in the partnership or is given to an identified successor, and (2) the partnership will be dissolved.
A strategic partnership (also see strategic alliance) is a relationship between two commercial enterprises, usually formalized by one or more business contracts.A strategic partnership will usually fall short of a legal partnership entity, agency, or corporate affiliate relationship.
Articles of partnership is a voluntary contract between/among two or more persons to place their capital, labor, and skills into a business, with the understanding that there will be a sharing of the profits and losses between/among partners. Outside of North America, it is normally referred to simply as a partnership agreement. [1]
A domestic partnership is an intimate relationship between people, usually couples, who live together and share a common domestic life but who are not married ...
Affirm Holdings is getting its largest-ever capital commitment with a new partnership from private credit firm Sixth Street, which is investing in $4 billion worth of loans over the course of ...
Collaborative partnerships are agreements and actions made by consenting organizations to share resources to accomplish a mutual goal. Collaborative partnerships rely on participation by at least two parties who agree to share resources, such as finances, knowledge, and people.