...partnership is generally governed by a state's Uniform Partnership Act, which defines a partnership as "an association of two or more persons to carry on as co-owners a business for profit" In a general partnership, the self-directed autonomy inherent in the sole proprietorship is lost Every...

...entities jointly undertaking a particular transaction for mutual profit.8 A partnership is defined as an association of two or more persons to carry on, as co-owners, a business for profit9 and can be structured as a partnership or, as is increasingly more common, a limited liability...