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In a partnership, we can share responsibility, which encompases legal liability, financial obligations, decision-making, and profit/loss sharing
Which means each partner is personally liable for the business's debts and obligations, and they also share in the profits or losses of the business
We also have potential tax advantages, which means we can avoid double taxation, have pass-through of deductions and credits, and have capital gains tax advantages.
And we can have access to diverse skills capital like, covering startup costs, purchasing inventory, and we both have skills in tech and marketing.
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BUT, we can also have unlimited liability, which means we are personally responsible for the business's debts and obligations.
we will also have limited growth potential, which means we may not grow as big as other businesses because we are such a small group.
And, we can have difficulty raising the companies capital, which means due to our unlimited liability, it will be harder to keep a lot of money.

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