Across
- 3. a business agreement between partners (three words)
- 5. duties a duty that a partner owes to the partnership
- 8. the termination of a partnership
- 9. a type of liability that means that a third party has the option of suing all of the partners together or one or more of the partners separately (three words)
- 10. an arrangement in which the owner of intellectual property licenses it's use to others
- 11. an association of two or more persons to carry on in a business for profit
- 12. a third party must sue all of the part-ners as a group but each partner can be held liable for the full amount of debt. (two words)
Down
- 1. a person that starts and manages a business
- 2. when a partner ceases to be associated with the partnership business
- 4. an prearranged agreement how one partner can buy out another (three words)
- 6. a type of business entity that does not pay tax at the business level but passes to the owner
- 7. simplest form of business with one owner (two words)