Partnership Law
/ˈpɑːrtnərʃɪp lɔː/
Definitions
- (n.) The body of law governing the formation, operation, dissolution, and liabilities of partnerships, which are associations of two or more persons conducting business together for profit.
The company was structured under partnership law to allocate liability among the partners.
Forms
- partnership law
Related terms
See also
Commentary
Partnership law varies by jurisdiction but generally addresses fiduciary duties, profit sharing, and liability issues among partners.
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.