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 ?
Arizona's bioscience sector continues to significantly outperform the nation in terms of job and establishment growth and has made impressive gains in building a more concentrated industry base," said Walter Plosila, senior advisor to the Battelle Technology Partnership Practice.
Contributors describe methods for modeling partnership practice and eight of the chapters comprise case studies, looking at examples of partnership practice such as the "dreamcatcher model" at University of North Texas' anthropology department, or an organization of first-responder partnerships in Ridgemont following September 11.
CB Richard Ellis announced the formation of its corporate partnership practice, a new national initiative designed-to identify sponsorship opportunities for CBRE's retail and office property owners.
The document contains a dozen examples of good partnership practice in the private, public and voluntary sectors.
It would be best to have such a provision in the partnership agreement but an established partnership practice should suffice.
The annual study by the Battelle Technology Partnership Practice found that Arizona continues to outpace the nation in generating bioscience jobs and firms, and the state has reached an all-time high in grants awarded by the National Institutes of Health, the gold standard of biomedical research funding.
Horizon Wealth Management was founded in Baton Rouge, LA by Managing Member and Chief Executive Officer Pete Bush and operates as an ensemble partnership practice.
Marianne Clarke, Battelle Technology Partnership Practice , discussing the economic impact of the life sciences in Tennessee;
The report, published today by AgriNovus Indiana and Battelle Technology Partnership Practice, better defines the agbiosciences sector in Indiana.
Bio Nebraska contracted with Battelle Technology Partnership Practice to assist with the development of this plan.
30, 2014 /PRNewswire/ -- A new report, commissioned by BioCrossroads and conducted by the Battelle Technology Partnership Practice, takes an in-depth look at Indiana's capital market and the innovation outputs that have resulted over two different time frames: 1993 to 2002 and 2003 to 2013.
States and regions are targeting the bioscience sector because it is a source of high-wage, high-skill jobs," said Mitchell Horowitz, Vice-President of Battelle's Technology Partnership Practice.

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