ECON WORK Types of Partnerships
The different types of partnerships suit different types of businesses.
Identify Partnerships Identify the type of partnership represented in each description.
1. Doctors choose this type of partnership because it protects them from malpractice
suits brought against other partners.
2. The only role that George plays in the partnership is to collect
profits or bear losses based on the amount of funds he contributed.
3. Stephen and Mike start a consulting service to help businesses manage their
trademarks and patents. They are the only partners, sharing equally in the work, profits,
and losses.
4. Rosa and Serena carefully review expansion plans after new partners provide extra
funds. However, they know that they remain fully liable if their decisions are not sound.