Business GCSE
Partnership
What Partnership means in Business GCSE, as defined for OCR.
Definition of Partnership
A business owned by two or more people who share the risks and rewards.
Topics that use Partnership
- Business ownership (OCR GCSE)
Related terms
- Limited Liability
- Incorporation
- Initial Public Offering (IPO)
- Private Limited Company (Ltd)
- Public Limited Company (PLC)
- Sole Trader
- Unlimited Liability
Using Partnership in the exam
Definition questions usually carry one or two marks, and examiners look for the precise wording. Write the definition from memory, check it against the version above, and then use the term in a longer answer on the same topic so it sticks.
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