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In Module Two on partnerships, the tutorial highlights the successful collaboration between Apple co-founders Steve Wozniak and Steve Jobs, emphasizing the significance of partnerships in business. It outlines the legal aspects affecting partnerships, including the different types (general, limited, and limited liability), their features, formation, and termination processes. The roles and duties of partners are also discussed. Additionally, the module details how state regulations govern partnerships, with model acts like the Uniform Partnership Act and the Revised Uniform Partnership Act serving as frameworks for partnership laws. These state laws apply by default when no specific partnership agreement is in place, but such agreements can modify these default rules.
