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Partnerships involve two or more individuals collaborating towards a shared goal, but in the business realm, they require specific details outlined in partnership agreements. This video tutorial from e-forms, the largest online database of fillable legal forms, explains partnership agreements, detailing their components and important considerations when creating or assigning one. It begins with an overview of partnerships as a type of business organization, which is a formal legal entity recognized by the state. The video also touches on various types of business organizations, such as corporations and limited liability companies (LLCs), and introduces various subtypes within partnerships, including limited liability partnerships.