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Partnerships (Deed of Partnership (an agreement between partners, all…
Partnerships
Deed of Partnership
an agreement between partners
all partners sign it
confirms money invested
wages of each partner
duration of partnership
Sleeping Partner
wants to be apart of the business but doesn't want to work
have limited liability
get profits earned
invests in business
Key points
normally small business
main aim = make profit
more partners = more improvement and ideas
Advantages
more ideas shared
flexible hours
Disadvantages
legal responsibility
sleeping partners have limited liability
2-20 individuals or businesses join together to work