„Partnership“

An unincorporated business owned and operated by two or more persons, who, according to the agreement of the partnership, share the profits and the losses, and the responsibilities, and have general or limited liability. (At least one partner must have unlimited liability)

Source:

Klein, William A., Ramseyer, J. Mark, & Bainbridge, Stephen M. (2018). “Business Associations, Cases and Materials on Agency, Partnerships, LLCs, and Corporations”. Ninth Edition. Foundation Press.