A partnership is much like a sole proprietorship in that neither has a legal personality-or legal existence-separate from the people who comprise them.

Name: A partnership is much like a sole proprietorship in that neither has a legal personality-or legal existence-separate from the people who comprise them.
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Both a partnership and a sole proprietorship lack a separate legal entity status, meaning the business and the owners are considered the same for legal and tax purposes.

A Partnership Is Much Like a Sole Proprietorship in That