Similar words: partnership, general partnership, limited partnership, partnership agreement, business relationship, Business is business, businessperson, start a business.
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1. The process of breaking up and discontinuing a partnership business is called liquidation.
2. Every partner may take part in the management of the partnership business.
3. Not applicable to self - employed person, sole proprietor or partner of partnership business.
4. All partners have equal rights in the management and conduct of the partnership business.
5. No partner shall be entitled to remuneration for acting in the partnership business.
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