Partnership Certificate (Noun)
Meaning
A certificate showing the interests of all parties in a business partnership.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The business partners obtained the partnership certificate prior to applying for the bank loan to verify their individual interests.
- A partnership certificate must be issued by the partners specifying the extent of each partner's participation in the business.
- The lawyer reviewed the partnership certificate carefully before drafting the contract.
- The registration process required submission of the partnership certificate and identification documents of all partners.
- Acquiring a partnership certificate helped each partner to understand their roles, responsibilities, and profit-sharing ratios.