Types of partnership business

Types of partnership business

A partnership is an association of people who agree to run the business together with a view to make profit

Types of partnership

Ordinary partnership: partners

  • Have unlimited liability
  • They take active part in the running of the business
  • They are responsible for debts of the business

Limited partnership: Partners

  • Have limited liability
  • They do not take part actively in the running of the business, hence they are called dormant partners or sleeping partners


Published by


IAM experienced geography teacher with more than three years of teaching and creating content related to geography and other subjects for both high school and college students. hope you will find the content of this website useful to your studies and daily life

One thought on “Types of partnership business”

Comments are closed.