Question

Are most large companies in the Philippines today owned by individuals? If your answer is No, who owns them? If your answer is yes, can you identify who owns them? Who gets the profit? Who shoulders the losses?

Answer 1

Explanation:

If there is no written partnership agreement, partners are not allowed to draw a salary. Instead, they share the profits and losses in the business equally. The agreement outlines the rights, responsibilities, and duties each partner has to the company and to each other.