A REPORT ON PARTNERSHIPS A partnership is a term applied to an association of two or more persons who have agreed to combine their labour, property and skill. For the purpose of engaging in lawful business and sharing profits and losses between them. The parties forming such an association are known as partners. The agreement to form a partnership is known as “The deed of partnership”, the most important provision of which, spells out the …showed first 75 words of 607 total…

…showed last 75 words of 607 total…the business and the time spent working for the firm. The money the partners put into the business is usually spent on:  I.T. The firm has a great number of computers, which are continually being updated.  Stationery. Pens, paper, pins etc.  Consumables. Teabags, coffee, toilet roll etc. The partnership has only been dissolved once, this was because “The partner” was not working hard enough and was not bringing in his money for the firm.