![]() ![]() This is a catch-all term for two companies or organizations teaming up for a specific goal or purpose where there is a definite end to the scope of their work. This is a partnership, the scope of the work you’re each performing is indefinite and equal. The two of you will share all the responsibilities of running the business and contribute your individual expertises when necessary. The two of you would like to start an art printing business with the intention of working together for a long time. Say you own a printing press and your friend is a pen-and-ink artist. But they all have the same principle: two people partnering together to create a company. There are many different kinds of partnerships: General, Limited, Limited Liability, etc. Partnerships are considered long-term business relationships with the intention of operating together on all matters endlessly. ![]() There are a lot of articles that confuse joint ventures and partnerships and I’d like to take some time to clear up the distinctions between the two. In fact, you may have a partner or partners you’d like to go into business with. This isn’t something you have to do alone. There are a lot of little things that need to be done before the business is up and operating: finding capital, finding office space, warehouse space, hiring employees, and filing the necessary paperwork with the state to actually form the business. Starting a business is a stressful and rewarding endeavor that should never be taken lightly. ![]()
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