Copartner
Term · Law · MLC-T-LAW-001307
An individual who shares in the ownership and management of a business with one or more other individuals. Each copartner contributes capital, labor, or skill and shares in the profits and losses of the enterprise. Their relationship is governed by a partnership agreement, which outlines their rights, responsibilities, and liabilities, often including joint and several liability for partnership debts.
| Identifier | MLC-T-LAW-001307 |
|---|---|
| Field | Law |
Record as JSON
{
"id": "MLC-T-LAW-001307",
"term": "Copartner",
"field": "Law",
"definition": "An individual who shares in the ownership and management of a business with one or more other individuals. Each copartner contributes capital, labor, or skill and shares in the profits and losses of the enterprise. Their relationship is governed by a partnership agreement, which outlines their rights, responsibilities, and liabilities, often including joint and several liability for partnership debts.",
"url": "https://mlchart.com/terminology/law/copartner/"
}
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