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What is Understanding Partnerships and Corporations about?
A partnership is a juridical person created by an agreement between two or more persons to contribute money, property, or industry for the purpose of sharing profits. It is considered a contract under civil law. There are key differences between partnerships and corporations as juridical persons. Partnerships can have no limit on the number of partners while corporations are limited to 15 incorporators. Partnerships are managed by all partners but decisions are made by those holding a controlling interest,
- Author
- carmine
- Language
- EN