partnership

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partnership

a. a contractual relationship between two or more persons carrying on a joint business venture with a view to profit, each incurring liability for losses and the right to share in the profits
b. the deed creating such a relationship
c. the persons associated in such a relationship

Partnership

A legal relationship existing between two or more persons contractually associated as joint principals in a business as co-owners.

Partnership

 

in the United States, Great Britain, and certain other bourgeois states that have adopted the Anglo-Saxon system of law, a legal and organizational form for capitalist enterprises.

A partnership is defined by law as a relationship that exists between persons who are jointly conducting a business for profit. Relations between partners are regulated by contract. A partnership is not considered a legal entity; its assets are jointly owned by the partners. In the absence of special agreement to the contrary, each partner is an authorized agent for the partnership and has the right to transact business. Partners bear joint liability to creditors for contract obligations.

References in periodicals archive ?
During phase one of a partnership accounting action, the primary issues are typically whether a party is a partner of the partnership or whether a partnership exists.
Advent Partner(R) is part of the Advent Global Hedge Fund solution that combines portfolio or fund accounting, trading, and partnership accounting in a single integrated solution.
Seamless integration of the portfolio accounting, trading and partnership accounting functions; -- Unmatched throughput for high trading volume across multiple instruments and currencies; -- Fast, flexible, accurate reporting capabilities and real-time information access; -- Rapid, global error correction and instant updating throughout the system; and -- Scalability to grow their business through new product offerings, and increased asset and trade volumes, without adding headcount.
0 is now fully integrated with Advent's Moxy(R) for order management, Advent Partner(R) for partnership accounting and the new Workflow Manager for STP.
TKS Solutions LLC, a provider of partnership and shareholder accounting solutions for the financial industry, today announced that Anchin, Block, Anchin LLP is utilizing Penny, TKS' flagship software, as its central partnership accounting system.
announces it has launched the latest version of its market leading partnership accounting software, Advent Partner(R) version 4.
With the new enhancements, the wealth manager can report on assets held at multiple custodians, access partnership accounting tools, and create customized online and printed reports for specific points of view that are based on daily updated and fully reconciled investment account data.
Gladd has extensive hospitality industry experience in partnership accounting and acquisitions.
This Linedata suite includes the integrated MShare and MPartner solution, the only integrated transfer agency and partnership accounting solution in the market, and MFact, an easy-to-use global fund accounting solution.
Comprised of three core modules -- Investment Accounting and Unit Pricing, Partnership Accounting, and Transfer Agency and Equalization -- Advent for Fund Administrators enables users to achieve significant productivity gains, while greatly improving the quality and timeliness of the services that they provide their clients.
The company has had experience in nearly every facet of hedge fund operations, including starting hedge funds, structuring and organizing new funds, portfolio investment management and, of course, partnership accounting.

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