Dentist Partnerships or Dental Partnerships refer to dental practices owned or managed by two or more dentists. As opposed to a professional corporation, a dental partnership can be formed unintentionally. The mere fact of sharing expenses and profits can be construed as a partnership.
A major disadvantage of entering into a dental partnership is that general partnerships have unlimited liability to each partner. If you are found to be a partner and your partner incurs a debt or judgment for malpractice or breach of contract with a vendor, you could be responsible for repaying that debt or judgment. Dental partnership agreements should be drafted in a clear manner to overcome this major drawback.