The major disadvantage is legal liability for any debts or expenses incurred. It is important to have adequate insurance protection in case you cause harm to someone and they sue you. See your general insurance agent for this type of coverage. This is essentially a group of sole proprietors coming together under one name to practice their business. Each partnership is able to have a unique structure.
Partners can take different shares of the profits or losses.
Some can contribute money to run the business while others do not - it depends on the agreement. As with a sole proprietorship, each partner is liable for all the obligations of the business. You should never enter into a partnership without a legal agreement, which is usually called a partnership agreement. It will put in writing the terms and conditions related to the partnership, including who can sign cheques, who can buy assets and who can commit to liabilities. Banks usually require all partners to be responsible for any loans.