Q. What is a partnership?
A. A partnership is an unincorporated business that is owned and operated jointly by two or more parties. It is typically an ongoing long-term business operation, the end goal of which is to create profit for the partners.
Q. What's the difference between a partnership and an incorporated entity, such as a corporation or limited liability company?
A. The biggest difference is that a corporation has a legal existence separate from its owners, with the same legal rig...