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In Module Two, the tutorial discusses the significance of partnerships in business, exemplified by the alliance of Apple co-founders Steve Wozniak and Steve Jobs, who combined their strengths in analytics and business foresight. The module outlines the legal framework governing partnerships, including the three types of partnerships and their characteristics, formation, and termination processes. It emphasizes the roles and responsibilities partners have towards each other. Additionally, it details how state regulations, influenced by model acts like the Uniform Partnership Act and the revised Uniform Partnership Act, provide default rules in the absence of a partnership agreement, which can be altered by mutual consent.
