Legal Definitions - nontrading partnership

A nontrading partnership is a type of partnership where the partners are not involved in buying and selling goods or services, but instead work together in an employment or occupation. This partnership is also known as a noncommercial partnership.

For example, a group of doctors who work together in a medical practice can form a nontrading partnership. They do not buy or sell medical equipment or supplies, but instead provide medical services to their patients.

This type of partnership is different from a trading partnership, which involves buying and selling goods or services. An example of a trading partnership is a retail store that buys and sells clothing.