When two or more parties join forces to achieve a particular goal, or when two existing businesses contribute equity toward a new business. Like “going halfsies” in the business world. If you go into a joint venture with a friend or other individual, what you’re forming is called a general partnership. Just know that in this case, if your partner makes a bad financial decision, you’ll be on the hook just as much as she is.« Back to Glossary Index
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