Partnership
What Partnership means in Business GCSE, as defined for AQA, OCR, Pearson Edexcel.
Definitions of Partnership
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Check what you remember
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Reference: Pearson Edexcel
A business involving two or more owners sharing the workload and capital, but partners may disagree and also face unlimited liability.
A legal structure that can share skills and capital, with shared decision-making and ordinary partners having unlimited liability.
A business owned by two or more people who share the risks and rewards.
Topics that use Partnership
- Business ownership (AQA GCSE)
- Business ownership (OCR GCSE)
- The options for start-up and small businesses (Pearson Edexcel GCSE)
Related terms
- Private limited company (Ltd)
- Unlimited liability
- Incorporation
- Limited liability
- Public limited company (plc)
- Sole trader
- Conflict and agreements
- Dividend
Using Partnership in the exam
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