2. Meaning Of Partnership
Arrangement where parties agree to cooperate
to advance their mutual interests
A partnership is the relationship existing
between two or more persons who join to carry
on a trade or business. Each person contributes
money, property, labor or skill, and expects to
share in the profits and losses of the business.

3. Types Of Partnership
• General Partnerships
• Limited Partnerships
• Limited Liability Partnerships (LLP)

4. Advantages
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Collaboration
Simple operating structure
Flexibility
Acquisition of capital
Capital Shared
Responsibility
Easy to Establish

5. Disadvantages
• Disagreements
• Liability
• Taxation
• Profit Sharing
• limited life

6. 5 Steps to the Perfect Business
Partnership
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Get clear on your needs
Fish in the right waters
Be selective
Clarify roles, duties, and expectations
Get legal