Partnership is the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all. In other words a partnership is an association of two or more person, who carry on a business together. In a partnership business, partner comes together to provide the capital and jointly shares the responsibility for running the business of the partnership firm. It is not necessary that all the partners shares capital. One or some may provide capital and other contribute the skill or expertise. ------------------- ---------------- | 
