(805 ILCS 206/202)
    Sec. 202. Formation of partnership.
    (a) Except as otherwise provided in subsection (b), the association of 2 or more persons to carry on as co-owners a business for profit forms a partnership, whether or not the persons intend to form a partnership.
    (b) An association formed under a statute other than this Act, a predecessor statute, or a comparable statute of another jurisdiction is not a partnership under this Act.
    (c) In determining whether a partnership is formed, the following rules apply:
        (1) Joint tenancy, tenancy in common, tenancy by the
entireties, joint property, common property, or part ownership does not by itself establish a partnership, even if the co-owners share profits made by the use of the property.
        (2) The sharing of gross returns does not by itself
establish a partnership, even if the persons sharing them have a joint or common right or interest in property from which the returns are derived.
        (3) A person who receives a share of the profits of a
business is presumed to be a partner in the business, unless the profits were received in payment:
            (i) of a debt by installments or otherwise;
            (ii) for services as an independent contractor or
of wages or other compensation to an employee;
            (iii) of rent;
            (iv) of an annuity or other retirement or health
benefit to a beneficiary, representative, or designee of a deceased or retired partner;
            (v) of interest or other charge on a loan, even
if the amount of payment varies with the profits of the business, including a direct or indirect present or future ownership of the collateral, or rights to income, proceeds, or increase in value derived from the collateral; or
            (vi) for the sale of the goodwill of a business
or other property by installments or otherwise.
(Source: P.A. 92-740, eff. 1-1-03.)