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When two or more people legally file a agreement before starting a business about their share in the business, such business are called partership businesses.

There are mainly two types of partership business. One is general and other one is limited. In general partership, both the parties will invest their money, labour etc and both are 100% liable for any losses, where as in limited partnership, require a formal agreement between both the parties and their invested share only will decide how much they are liable.

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