A typical partnership consists of a group of individuals carrying on business in common with a view to making a profit. A partnership is similar in structure to a sole trader but instead of having just one owner it can vary between a minimum of two persons and a maximum of twenty partners. Such a partnership is governed by the provisions of the Partnership Act 1890 and the contents of any partnership agreement drawn up by the partners. The terms of a partnership may be varied or changed with the agreement of the partners. Each partner has the right to be involved in the management of the business and every partner is jointly and severally liable for the debts of the partnership without limit. All partners are bound by any contract that a partner enters into for partnership business purposes. Partnership decisions are usually made by a simple majority. There are special tax rules that dictate how the profits/losses and capital allowances of a partnership are taxed. Assets used for the business of the partners may be either partnership property or belong to one or more of the partners in a personal capacity and be rented to the partnership. Unlike a company, a partnership does not have to disclose its accounts.