Partnerships

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Benefits of a Partnership Agreement

Partnership agreements are used to regulate the manner in which the business of a partnership will be carried on and to regulate the relationship of the partners as owners of that business. A properly drafted partnership agreement will have a number of specific benefits and will set out:   the […]

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Taxation of Partnerships

As a partnership is not a separate legal entity, its partners share the profits and losses of the partnership business directly. As a result, they are directly assessed for income tax on their respective shares of the profits and losses of the partnership. However, there are numerous expenses that can […]

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Advantages and Disadvantages of Partnerships

There are a number of advantages to having a partnership. Some of these include: Partnerships are easy to establish. They can be established informally through the conduct of partners or formally by having the proposed partners enter into a partnership agreement. A partnership agreement will regulate the business of the […]

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What is a Partnership?

A partnership is an arrangement where individuals (or other entities such as companies) agree to work together for the purposes of making a profit and advancing their common interests. As well as providing a structure to allow two or more people to go in to business together, partnerships also offer […]

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How to Set Up a Joint Venture

If two companies or individuals believe that there are advantages to working together on a targeted business project, they may decide to form a joint venture. For example, if you have a restaurant and your friend has a party supply business that provides servers, chairs, tables, and the like, you […]

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