Companies can enter into partnership with each other. Partners are usually individuals and there must be at least 2 partners. Some professions are permitted to extend this to make a partnership without a legal maximum. A single transaction may suffice. Liability Every partner is liable without limit for the debts of the partnership.
Liability is joint and several.
This may dissolve the partnership unless otherwise agreed. To avoid liability the retiring partner should give actual notice to the creditors. In respect of future creditors, the retiring partner should place an advertisement in the London Gazette. Some property used in the business may belong to one of the partners and not to the partnership. The Partnership is only bound by acts done by a partner in the firm's name and not apparently for the partners personally.