carry on as co-owners a business for profit

No. Sharing gross returns does not by itself satisfy the standard even when the parties have a joint interest in the property generating the returns. Courts distinguish gross receipts from net profits and require additional evidence of co-ownership such as shared control or net-profit division.

No. The standard focuses on objective conduct showing co-ownership and profit motive rather than self-descriptions or labels. When parties jointly lease space, pool capital, share expenses, and brand a single enterprise, their actions satisfy the definition regardless of contrary statements to customers.

No. Joint ownership of assets and receipt of royalty-style payments from a third party's operations do not satisfy the standard when the owners exercise no control over the business itself. The distinction between property co-ownership and business co-ownership prevents automatic partnership formation.