A partnership is defined as an association of two or more persons to carry on as co-owners a business for profit. The premise is built around the notion that the combined power of the partners exceeds the sum of the value the partners could generate independently.
Aggregate theory is one of two legal theories with partnerships and limited liability company entity forms. Aggregate theory recognizes the business existence as a group of partners/members and not as an entire entity. Legally speaking, the partners are sued or can sue and not the partnership as a whole.