(b) That's right. Although a partnership is often referred to as a 'firm', and may trade under its own business name, it is important to remember that a partnership is not considered to be a separate legal person in its own right. It is better to think of a partnership as a particular kind of legal relationship that exists between the partners, while remembering that it is the partners who acquire the relevant legal rights and duties.

A partnership may trade under the names of the partners, or under a different registered business name. For example, if Edward Delgardo and Ronnie Tran joined forces to run a plumbing business, they might trade as E Delgardo and R Tran; or as D&T Plumbing.

Note: If two or more people join together to operate a business by means of a company incorporated under the Corporations Act 2001 (Cth), a partnership is not created.