My topic is about partnership.

PARTNERSHIP.

--it is a form of business when two or more people binds themselves to contribute money, property or
industry to a common fund with the intention of dividing the profit and loss among themselves. (so it is
not incorporated)

 In order to create a partnership, it needs two or more person. So pwedeng tatlo, apat, lima or
more partners. From the definition, wala namang sinabing limit so baka pwedeng umabot ng
50-100 ppartners? The answer is no because according to section 115 of the corporation act of
2001, the maximum number of partners that a partnership can haveis up to 20 partners but with
some exception. Kasi kung umabot na sa ganong kalaking number ng partners and do not fall
within the exceptions, then partnership is not suitable for your business maybe pwede na
gawing corporation. and It will be tackle on the next topic.
- Take note that the contract of partnership has No form required so it may be oral or in
writing or what we call the article of partnership. So magkakaron ng kontrata from the
moment na nagkaroon ng meeting of mind among partners
- (Example: si A and B nagagree or nagusap magcecreate ng business, napag usan din nila
na magcocontribute si A ng money and property then si B naman magcocontribute ng
labor or industry having the intention to divide the profit or loss amonng themselves. Is
that valid? The answer is yes. Contract of partnership is perfected by mere consent and
agreement among all partners.)
 Another tye of partnership ay yung tinatawag natin na GPP or the general professional
partnership. It is where Two or more persons agree to place their money property, labor and
skills in lawful commerce or business . example yung mga nasa law firm and accounting firm.
These are the people who practice their professio.

Advantages.

1. Ease of creation- katulad nga po ng sinabi ko kanina, partnership has no form and perfected by
mere consent of partners. So pwedeng pag usapan lang and magkaroon ng agreement then
meron ng partnership. On the other hand, yung ibang partnership nagreregister sa securities
and exchange commision for the purpose of protecting the third persons or convenience of
parties or yung mga creditors .Pero kahit may mga registration din, mas madali padin po sya
icreate kesa sa corporation.
2. Additional sources of fund- dahil may 2 or more partners na magcocontribute ng fund sa
partnership, mas malaki yung chance na makapagraise sila ng mas malaking capital, expand their
business and earn large profit unlike sole proprietorship na isang tao lang yung source of
income.
3. Availability of different talents- sa partp o na to, ito po yung sinasabing two head is better than
one. Hindi lang isang tao yung kikilos or mag iisip, hindi lang isa yung mamromroblema,
pwedeng yung isang partner taga manage ng business nila, yung isa naman tagapamahala in
terms of financing So hati hati sila ng part base sa agreement.

So syempre po hindi din nawawala yung mga disadvantages sa isang business structure. So sa
disadvantages ng partnership,
1. Partners are liable- so may tinatawag po tayong general and limited partners.
Example. C, D and E create a partnership having C and D as general partners and E as limited
Partner. Unfortunately, nalugi yung business nila pero baonn padin sila sa utang. Pag nakuha na
and naipangbayad yung mga funds ng partnership or the capital contributed by partners, si C
and D as general partners are still liable up to the extent of their personal property. So si
creditor pwede nya habulin si c and d para macover yung utang ng partnership. so What about
E? Being a limited partner, kung ano lang kin otribute nya sa partnership, yun lang yung
makukuha ng creditors sa kanya.

2. Profits are shared among several owners- dahil nga 2 or more person ang meron sa
partnershipp, yung profit ay paghahatian nyonng lahat.even if an uneven work load occurs, the
net income is based on the agreement. So parang sa example kanina, pag nasa agreement na si
capitalist partner na nagbigay lang ng capital ay makakakuha ng 60% sa profit while si industrial
partner na binuhos lahat ng effort para maalago yung partnership ay makakakuha lang ng 40%
net, so mejo unfair sa part ni industrial partner pero wala syang magagawa kasi nag agree
naman sya don.
3. Potential for disagreement among owners- so dahil 2 or more person nga ang may ari sa
partnership, then pwedeng magkaron nang iba ibang opinion each partner or pwede din
magkasalungatan. So it is advisable na wag daw magcreate ng partnership sa mga relatives kasi
pwede syang magcause ng personal conflict.
4. Business can dissolve suddenly- so pag may namatay na partners, hindi pwedeng kunin yung
position nya as a partner ng asawa or anak nya so in this case, it will result sa dissolution ng
partnership so hindi din sya madali kasi after non pwedeng magtinda ng mga assets ng
partnership ppara maibigay yung share ng deceased partners.
So that would be all for partnership, thank you po.

My topic is about partnership.

PARTNERSHIP.
--it is a form of business when two or more people binds themselves to contribute money,
property or industry to a common fund with the intention of dividing the profit and loss among
themselves. (so it is not incorporated)
• In order to create a partnership, it needs two or more person. So pwedeng tatlo, apat,
lima or more partners. But what if nasa 21 partners na yung gustong gumawa ng partnership?
Pwede pa po ba? The answer is no because according to section 115 of the corporation act of
2001, the maximum number of partners that a partnership can haveis up to 20 partners but with
some exception. Kasi kung umabot na sa ganong kalaking number ng partners and do not fall
within the exceptions, then partnership is not suitable for your business maybe pwede na
gawing corporation. and It will be tackle on the next topic.
- Take note that the contract of partnership has No form required so it may be oral or in
writing or what we call the article of partnership. Nakaindicate don yung name ng partnership,
date ng establishment, name ng partners and also their principal location.
- (Example: si A and B nagusap na gusto nilang magcreate ng business. Is that valid? The
answer is yes. Contract of partnership is perfected by mere consent and agreement among all
partners.)
- Another example. A, B and C agreed to form partnership having A and B as capitalist
partner and C as industrial partner. So pwede din po yon, partners can contribute either money,
property or industry or yung tinatawag na labor to a common fund, they can contribute atleast
one, some or pwede din naman lahat.
• Another tye of partnership ay yung tinatawag natin na GPP or the general professional
partnership. It is where Two or more persons agree to place their money property, labor and
skills in lawful commerce or business . example yung mga nasa law firm and accounting firm.
These are the people who practice their profession.
Advantages.
1. Ease of creation- katulad nga po ng sinabi ko kanina, partnership has no form and
perfected by mere consent of partners. So pwedeng pag usapan lang and magkaroon ng
agreement then meron ng partnership.
2. Additional sources of fund- dahil may 2 or more partners na magcocontribute ng fund sa
partnership, mas malaki yung chance na makapagraise sila ng mas malaking capital, expand their
business and earn large profit unlike sole proprietorship na isang tao lang yung source of
income.
3. Availability of different talents- sa partp o na to, ito po yung sinasabing two head is
better than one. Hindi lang isang tao yung kikilos or mag iisip, hindi lang isa yung
mamromroblema, pwedeng yung isang partner taga manage ng business nila, yung isa naman
tagapamahala in terms of financing So hati hati sila ng part base sa agreement.
So syempre po hindi din nawawala yung mga disadvantages sa isang business structure. So sa
disadvantages ng partnership,
1. Partners are liable- so may tinatawag po tayong general and limited partners.
Example. C, D and E create a partnership having C and D as general partners and E as limited
Partner. Unfortunately, nalugi yung business nila pero baonn padin sila sa utang. Pag nakuha na
and naipangbayad yung mga funds ng partnership or the capital contributed by partners, si C
and D as general partners are still liable up to the extent of their personal property. So si
creditor pwede nya habulin si c and d para macover yung utang ng partnership. so What about
E? Being a limited partner, kung ano lang kin otribute nya sa partnership, yun lang yung
makukuha ng creditors sa kanya.

2. Profits are shared among several owners- dahil nga 2 or more person ang meron sa
partnershipp, yung profit ay paghahatian nyonng lahat.even if an uneven work load occurs, the
net income is based on the agreement. So parang sa example kanina, pag nasa agreement na si
capitalist partner na nagbigay lang ng capital ay makakakuha ng 60% sa profit while si industrial
partner na binuhos lahat ng effort para maalago yung partnership ay makakakuha lang ng 40%
net, so mejo unfair sa part ni industrial partner pero wala syang magagawa kasi nag agree
naman sya don.
3. Potential for disagreement among owners- so dahil 2 or more person nga ang may ari sa
partnership, then pwedeng magkaron nang iba ibang opinion each partner or pwede din
magkasalungatan. So it is advisable na wag daw magcreate ng partnership sa mga relatives kasi
pwede syang magcause ng personal conflict.
4. Business can dissolve suddenly- so pag may namatay na partners, hindi pwedeng kunin
yung position nya as a partner ng asawa or anak nya so in this case, it will result sa dissolution
ng partnership so hindi din sya madali kasi after non pwedeng magtinda ng mga assets ng
partnership ppara maibigay yung share ng deceased partners.

Examples : mc donald’s-riuchard and maurice mc donald

Microsoft- bill gates and paul allen
Twitter- evan williams, biz stone and jack dorsey
So that would be all for partnership, thank you po.