Partners
/ˈpɑːrtnərz/
Definitions
- (n.) Individuals who share ownership and operate a business together under a partnership agreement.
The partners agreed to split the profits evenly.
- (n.) Members of a partnership, a legal entity formed by an agreement to carry on a business as co-owners.
The partners are jointly liable for the debts of the partnership.
Forms
- partner
Related terms
See also
Commentary
In legal contexts, 'partners' typically refers to individuals in a partnership and denotes joint rights and liabilities; use precise distinction between general and limited partners when relevant.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.