Assertion: partnership's owner | /r/HasProperty | partner
Facets:
value: with obligations
type: OTHER
value: with privileges
type: OTHER
Source sentences:
text: Partnerships in this context refer to specific way of organizing business ownership wherein each owner is a partner, normally with equal rights, privileges, and obligations to the company as a whole.
text: The owners of a partnership are called partners because they join efforts and resources to start the business.
text: All three financial statements are affected: the income statement, statement of owners (partners') equity, and balance sheet.
text: The most obvious difference between an LLP and a limited liability company (LLC) is that the owners of an LLP are partners.