ARTICLES OF PARTNERSHIP Definition

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ARTICLES OF PARTNERSHIP is the contract creating a partnership.

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EMBEZZLEMENT is the fraudulent appropriation and personal use of funds or property entrusted to that persons care but actually owned by someone else, e.g. an employee can embezzle money from his or her employer, a civil servant can embezzle funds from the treasury, or a pastor can embezzle funds from a church. See also THEFT and WHITE COLLAR CRIME.

GOODWILL / INTANGIBLES is the total value of all intangible assets, e.g. goodwill, patents, copyrights, etc.

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