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Reasons business and company go into partnership!
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[QUOTE="Caramelle, post: 208089, member: 150"] [JUSTIFY]Partnerships are usually mutually beneficial. Individuals may decide to form a partnership with another individual for a range of reasons. One common reason is to combine their capital and use this to gain a strategic advantage over their competitors. In many cases, a single proprietorship business has limited capital and this often serves as a hindrance for expanding its operations and achieving leadership in the industry. Forming a partnership will help strengthen the financial position of the business and enhance its creditworthiness. Another reason to go into a partnership is to combine capital and expertise to form a formidable business. An investor who has capital but lacks expertise and competencies may form a partnership with an industrial partner who lacks sufficient capital to form a competitive business on his own. People with common visions may also form a partnership to achieve their objectives. Collaborating with people who share the same visions and goals will strengthen the company's position and accelerate its growth. It's easy to form a partnership but it's also easy to terminate it. A partnership's dissolution can be a messy process so when forming a partnership, all partners must ensure that all agreements, rights, and obligations are written and recognized in the partnership contract or Articles of Partnership. [/JUSTIFY] [/QUOTE]
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