Partnership law an overviewa partnership is a for profit business association of two or more persons because the business component is defined broadly by state laws and because persons can include individuals groups of individuals companies and corporations partnerships are highly adaptable in form and vary in complexity each partner shares directly in the organizations profits and . Following are frequently asked questions for business partnership rules what is a partnership a partnership is an association of two or more persons who carry on find a lawyer learn about the law findlaw answers law firm marketing attorney websites online advertising buy a directory profile marketing resources. Partnership an association of two or more persons engaged in a business enterprise in which the profits and losses are shared proportionally the legal definition of a partnership is generally stated as an association of two or more persons to carry on as co owners a business for profit revised uniform partnership act 101 1994. United kingdom partnership law concerns the way that partnerships are formed or governed within the united kingdom depending upon where the partnership was formed english law or scots law may apply in addition to statutes that create a framework across the uk under scots law a partnership is a distinct legal entity and can borrow money from
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