Q:

What are examples of partnership businesses?

A:

The most common example of partnership businesses are general partnerships. Under these, there are several common kinds that include medical partnerships, legal partnerships, real estate partnership and creative partnership.

A general partnership acts as a legal persona that binds at least two people known as partners to be responsible and liable for the established business. A medical partnership is comprised mostly of physicians who agree to share an office space or clinic. Surgeons offering specialized surgical services can also form under a surgical partnership.

Legal partnerships like The Legal Law Offices of Marks, Jones and Smith offer legal services to the public for such groups, with the prominent and established partners using the names in the business name.

Real estate partnership is composed of businesses focused mainly on real estate. The partners can have their own sales and profits. An example is a real estate business having 15 agents who deal with selling properties, while another five brokers act as employees and man the office.

A creative partnership is formed to generate income from advertising, graphic designing and marketing. Their services are in line with developing and selling accounts and/or personalized marketing and advertising strategies for businesses.


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