Definition: [ˈbɪznɪs ˈpɑːtnəʃɪp] is the interaction of two or more legal or individual persons for a shared benefit, which is achieved by obtaining material goods. For the business partnership, the notion of commercial risk is also important. Any risk, just like profit, is divided by agreement among all participants. In the business partnership, there are a number of nuances that should be considered before entering into agreements.
Business Partnership In Sentences:
- With the business partnership, the organization develops as a sole proprietorship.
- The organization of business partnership implies general economic activity. The basic role is played by a contract that regulates the obligations and rights of partners, their role in income, the division of property, the distribution of profits.
Synonyms and related words: business cooperation, business agreement, contractual relationships
