The following factors indicate a partnership or joint venture:
An intent on the part of two or more people to join together in good faith to carry on a trade or business;
Contribution of capital or services to the business by each party;
A sharing of the right to participate in management decisions and other responsibilities;
A sharing in the profits and risk of loss in accordance with the parties' agreement; and
Neither person is an employee of the other.
All of these basic factors must be present for an arrangement to be considered a partnership.