Business Partnership

Learn about Business Partnership and more with Workstream and improve your hiring vocabulary. Workstream helps companies hire better, faster - everyday.
Schedule a Demo Try Workstream for Free

What is a business partnership? 

A business partnership refers to a legal relationship between two or more parties formalized by a written document. These parties can be individuals, businesses, or any organization. In a business partnership, the parties agree to share in the ownership and operation of the business. They also benefit from profits resulting from the business. 

How is a business partnership started? 

Business partnerships typically begin with a verbal agreement. In this stage, potential business partners agree to form a new business or share an existing one. The agreement is confirmed with a written document that stipulates all the details concerning the business partnership. This written document is signed by all parties. The business must usually be registered in all the states where it conducts or will conduct business. However, the requirement to register and the type of business partnership may be different from state to state. 

What are the different types of business partnerships? 

Before establishing a business partnership, all parties must decide what kind of business partnership they want. Generally, there are three types: 

 

 

Is a business partner the same as a shareholder? 

A business partner and a shareholder are different. A business partner’s ownership of a company is based on the agreement with other business partners. Being a business partner usually involves some control or influence on business operations, depending on what type of business partner they are. Business partners can be general partners or silent partners. 

On the other hand, a shareholder is an investor in a publicly traded business or corporation. They purchase a certain number of shares of stock. This stock represents the portion of ownership that they have of the business. A shareholder’s influence on the business depends on how many shares they own. Shareholders are not liable for the actions of the business. 

Try out Workstream to hire employees for
your business

A revolutionary hiring process for Hourly positions

A revolutionary hiring process for Hourly positions Hiring hourly staff in San Francisco can be a tough job. Workstream can help accelerate the process by letting you post on job boards like Indeed within seconds.


1-Click Job Posting

No more tedious copy and pasting. We integrate with all the top job boards. All applicants funnel into one intuitive dashboard.

Text-to-Apply Posters

Print out your unique QR code and text message number. Applicants scan/text to see all open positions and apply right away.

Automated & 2-Way SMS

Engage with applicants via text. Include links to screening questions, forms, and more. Use 2-way text to answer questions.

Endless Integrations

Connect Workstream to your calendar so applicants can schedule interviews. Streamline onboarding with background check & HR integrations.

Candidate Tracking & Scoring

View all your applicants and employees in one place. Make notes on their progress. Access their docs anytime from anywhere.

Customizable Templates

We provide templates for everything from job postings to offer letters. Send links to docs and tax forms via text message so new hires sign digital copies.

What other owners
think about hiring through Workstream

"Easy to use!"


Buckingham Investments

"We had a steady stream of candidates through Workstream."


Organic Sandwich Co.

"Yes! It is very user friendly and I anticipate it will speed up our hiring and onboarding process significantly."


Mobility4All


Currently hiring on Workstream for:

Senior Community Driver

Caring Driver

Caring Driver for Seniors