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 ?
The purpose of calculating this index is to determine the level of strategic supplier partnership practice in the manufacturing industry in Malaysia.
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.
COLUMBUS, Ohio -- More and more countries are looking to the biopharmaceutical industry to boost their economies at the potential expense of the United States, concludes a recent study by the Battelle Technology Partnership Practice.
THE ARKANSAS RESEARCH Alliance, through a Battelle Technology Partnership Practice study that it commissioned, has given the state a much clearer picture of how to grow a knowledge-based economy.
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.
States realize that the biosciences have the potential to generate vibrant economies," explains Walt Plosila, vice president of Battelle's technology partnership practice.
Marianne Clarke, Battelle Technology Partnership Practice , discussing the economic impact of the life sciences in Tennessee;
The states realize that the biosciences have the potential to generate vibrant economies," says Walt Plosila, vice president of technology partnership practice at the Battelle Memorial Institute.

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