A partnership is usually the relationship between persons who conduct a business in common with the belief they will make a profit. You can have a partnership without a written agreement.
Therefore, to determine if you are a partner, determine the type and extent of your involvement in the business. See the laws of your province or territory to help you decide if you are a partner in a certain business.
When you form, change, or dissolve a partnership, consider:
Limited partnership
A limited partnership is a partnership that gives its limited partners responsibilities that are similar to those given to shareholders of a corporation. A limited partner's liability as a partner of the partnership is limited, as opposed to that of a general partner who has unlimited liability.