A partnership is an agreement between two or more people to engage in a business venture. Each partner agrees to contribute capital in the form of cash, assets, real property or effort to make the venture successful.

A partnership is a form of business entity owned by more than one partner. The key consideration is that the business is conducted with the aim of making a profit.

A general partnership is an entity allowing two or more persons to jointly conduct business for profit. The laws of each state authorize partnerships and, together with the written agreement between the parties, govern their terms.