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Two or more persons are co-owners. This in itself can broaden your scope of operations as compared with a sole proprietorship. You are not limited by the maximum ability and energy of a single individual which would restrict the size and growth of your enterprise.
Credit may be obtained by reliance upon the credit standing of two or more people. This should increase your ability to obtain needed capital.
Ease of formation. The partnership has no charter limitation; rather, the limitation is self-imposed by agreement among the partners.
The partnership form is relatively free from government control.
There is no income tax lavy on the partnership, only upon the individual partners.
Related terms include business process management and business organizations.
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