Legal Forms: Association

Association

Definition: A group of persons joining together for a business purpose. It is similar to a partnership, but is not governed by the partnership statutes.

Key Points

  • There must be at least one individual broker affiliated with the association in order for it to be licensed.
  • There are only about 10 associations licensed as a broker in Ohio.

Advantages and Disadvantages are essentially the same as they are for a Partnership.