As the sonic brand grew, troy smith formed a business relationship with charlie pappe. This form of business ownership was a

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Aileen Sweeney

Business

7 January, 16:55

As the sonic brand grew, troy smith formed a business relationship with charlie pappe. This form of business ownership was a

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Cheyanne Kaiser · Answer 1

Answer: Partnership

A partnership is a from of business ownership who come together with mutual consent in order to manage the business and share its profits.

The terms and conditions of this agreement and the quantum of profit for each partner is clearly stated in a document called the partnership agreement.

All the partners who actively manage the business and share the profits are called General Partners. The general partners are jointly and severally liable for the debts incurred by the partnership.