Is a form of business where two to twenty persons come together as financiers and profit earners of a business. Note: Before a partnership business is established a partnership agreement will have to be made and signed by the partners, the agreement is termed Deed of Partnership and however indicates:
- Name and address of business.
- Names and addresses of partners.
- Amount of capital contributed by each partner. i How profit and losses shall be shared.
- Duration of the partnership
- Admission of new partners.
- General organization of the business.
Note that the business must be registered within 14 days of its existence and any alteration on the above information must be modified and reported to the registrar within the, same 14 days.