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A partnership is a form of business organization where two or more individuals come together to carry out a business with the objective of earning profits. In the context of managing new and small enterprises, partnerships offer several advantages such as pooled resources, combined skills and expertise, shared decision-making, and mutual support. The Indian Partnership Act, 1932 governs partnerships in India, defining key ____ ______ _______ _________ _____ _______ ____ ______.
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