Partnership Agreements – Terminology

Partnership Agreements

Each of us has our own built in dictionary for terms we hear in our business lives.  I find it fascinating that the standard business term ‘Equity’ is interpreted differently within the business world.  I often interpret the term using the Internal Revenue Service definition because my background is in taxation.  Lawyers use this term to mean ownership and not necessarily financial driven.  Bankers convert this term to capital and the associated relationships to debt.

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