Partnership  formation  requires  minimum  and  maximum  number  of  partners respectively

In partnership formation, different types of partnerships have specific requirements regarding the minimum and maximum number of partners involved.

1. Minimum Number of Partners: Typically, a minimum of two partners is required to form a general partnership. This is because a partnership is defined as an association of two or more persons to carry on a business for profit.

2. Maximum Number of Partners: The maximum number of partners can vary based on jurisdiction and the type of partnership. For example:

   • In a general partnership, there might be no strict legal limit, but practically, a larger number can complicate management.
   • For limited liability partnerships (LLPs) or limited partnerships, certain jurisdictions may impose a cap on the number of partners, often in the range of 20 to 50 depending on local laws.

It's important for individuals looking to form a partnership to consult local regulations and legal statutes to ensure compliance with applicable laws regarding partnership formation, including any limits on the number of partners.