What is partnership?

Partnership is a type of business structure in which two or more individuals or entities come together to operate a business and share in the profits and losses. In a partnership, each partner contributes capital, resources, and expertise to the business, and they share in the decision-making and responsibilities of running the business. Partnerships can take various forms, such as general partnerships, limited partnerships, and limited liability partnerships, each with its own set of rules and regulations governing the relationship between the partners.