A partnership is a type of business entity商业统一体 in which partners (owners) share with each other the profits or losses of the business undertaking in which all have invested. Partnerships are often favored over corporations跨国公司 for taxation purposes, as the partnership structure does not generally incur a tax on profits before it is distributed to the partners (i.e. there is no dividend tax股息税 levied). However, depending on the partnership structure and the jurisdiction in which it operates, owners of a partnership may be exposed to greater personal liability（赔偿等）义务责任 than they would as shareholders股东 of a corporation.
Partners may have a partnership agreement合伙协议, or declaration of partnership and in some jurisdictions such agreements may be registered and available for public inspection.
In many countries, a partnership is also considered to be a legal entity, although different legal systems reach different conclusions on this point.
A partnership can be formed by two to twenty people.