General Partnerships: key provisions in partnership agreements and why they are important
When two or more individuals decide to engage in business, the corporate structure that will govern their relationship is the first and most important consideration. In a general partnership, two or more ‘persons’ which could be individuals, corporate entities, or both, conduct a business in common with a ‘view to [glossary_exclude]profit[/glossary_exclude]’. It is important to distinguish a general partnership from
