A partnership:

A) Is also called a sole proprietorship.
B) Has unlimited liability for its partners.
C) Has to have a written agreement in order to be legal.
D) Is a legal organization separate from its owners.
E) Has owners called shareholders.

Partnership

A certified business model where two or more co-owners share in the management and the financial gains.

Unlimited Liability

A legal structure in some businesses where owners are personally responsible for all of the company's debts, exposing personal assets to business creditors.

Written Agreement

A formal document that outlines the terms and conditions of a contract or agreement between two or more parties.