A partnership is defined as a business run by how many individuals?

A partnership is defined as a business arrangement where two or more individuals come together to run a business and share its profits and losses. The fundamental characteristic of a partnership is the collaboration and collective management of the business. In legal terms, the minimum requirement to establish a partnership is two individuals; this ensures that there is joint responsibility and mutual agreement in the decision-making process.

While a partnership can include more than two individuals, it cannot be formed with just one individual, which distinguishes it from sole proprietorships. Therefore, the correct answer emphasizes the foundational requirement of at least two individuals to establish a partnership, highlighting the collaborative nature of this business structure.