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partnership
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A partnership is an agreement where parties agree to cooperate to advance their mutual interests. The partners in a partnership may be individuals, businesses, interest-based organizations, schools, governments or combinations. Organizations may partner to increase the likelihood of each achieving their mission and to amplify their reach. A partnership may result in issuing and holding equity or may be only governed by a contract.
~20 min read
Article
25 sectionsContents
- History
- Partnership agreements
- Partner compensation
- Equity vs. salaried partners
- Law firms
- Taxation
- Common law
- Forms of partnership
- Silent partners
- Oceania
- Australia
- South Asia
- Bangladesh
- India
- North America
- Canada
- United States
- East Asia
- China
- Hong Kong
- Europe
- United Kingdom limited partnership
- See also
- References
- External links
A partnership is an agreement where parties agree to cooperate to advance their mutual interests. The partners in a partnership may be individuals, businesses, interest-based organizations, schools, governments or combinations. Organizations may partner to increase the likelihood of each achieving their mission and to amplify their reach. A partnership may result in issuing and holding equity or may be only governed by a contract.
==History== Partnerships have a long history; they were already in use in medieval times in Europe and in the Middle East. According to a 2006 article, the first partnership was implemented in 1383 by Francesco di Marco Datini, a merchant of Prato and Florence. The Covoni company (1336–40) and the Del Buono-Bencivenni company (1336–40) have also been referred to as early partnerships, but they were not formal partnerships.