A partnership is an arrangement where parties, known as partners, agree to co-operate to advance their mutual interests. The partners in a partnership may be individuals, businessesinterest-based organizationsschoolsgovernments or combinations. Organizations may partner to increase the likelihood of each achieving their mission and to amplify their reach. A partnership may result in issuing and holding equity or may be only governed by a contract.

WHY TO CHOOSE PARTNERSHIP ?

  • pooling of skills and resources by more than one persons
  • low start-up cost
  • plenty of funds, as increase in partners
  • secrecy of affairs of business
  • limited external control
  • flexibility