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The Business Itself The type of ownership that my business will have is a partnership. A partnership is a contract drawn up between a group of people in which a company they have invested within. They would all be joint, equal owners of the business. In an ordinary partnership, the law says that there could be anything from 2-20 partners and all the partners should share equal responsibility towards the business excluding the sleeping partners. A sleeping partner is a partner who whilst owning a share of the business, is hardly or never involved in the day-to-day working of the business. Once joining the partnership, these sleeping partners provide the company with vital money that was needed in setting up the business. In the contract that is drawn up by a solicitor, it is written down that all the partners involved (excluding the sleeping partners) would share out equally all the...

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