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partners. The parties to a limited partnershipshould also enter into a written limitedpartnership agreement, which governs therelationship between the parties and themanagement of the partnership itself.Joint VentureUnlike the corporate structures describedabove, joint ventures are not governed byprovincial or federal legislation. Instead, ajoint venture is an association of personsengaged in a common undertaking for jointprofit by combining capital, skill, experienceand other resources without forming apartnership. This form of organization iscommon in building or constructionundertakings.It is important that the parties to a jointventure enter into a written agreement, andthat the agreement explicitly states that theparties do not intend to be associated inpartnership and that neither party is anagent of the other. If this step is not taken,the parties could be deemed to be acting inpartnership, resulting in the application totheir relationship of the Partnership Act andthe common law principles regardingpartnerships.Co-operative AssociationsA co-operative is a body corporate, but is aseparate legal entity created under specificprovincial legislation known variously as theCo-operative Associations Act or the CooperativesAct. Co-operatives areassociations whose primary purpose is toprovide service to their members and whichbelong to the people who use the services,the control of which rests equally with all themembers, and the gains from which aredistributed among the members inproportion to the use they make of theservices. Each member of a co-operativehas one vote and no member is personallyliable for the debts, obligations or acts of theco-operative except for the amount, if any,unpaid on the shares for which he or shehas subscribed or the amount, if any,unpaid on the membership for which he orshe has applied. There are a number ofactive co-operatives in the AtlanticProvinces.Forms of Business Organizations 20