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class="vector-dropdown-label-text">Appearance</span> </label> <div class="vector-dropdown-content"> <div id="vector-appearance-unpinned-container" class="vector-unpinned-container"> </div> </div> </div> </nav> <div id="p-vector-user-menu-notifications" class="vector-menu mw-portlet emptyPortlet" > <div class="vector-menu-content"> <ul class="vector-menu-content-list"> </ul> </div> </div> <div id="p-vector-user-menu-overflow" class="vector-menu mw-portlet" > <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="pt-sitesupport-2" class="user-links-collapsible-item mw-list-item user-links-collapsible-item"><a data-mw="interface" href="https://donate.wikimedia.org/wiki/Special:FundraiserRedirector?utm_source=donate&utm_medium=sidebar&utm_campaign=C13_en.wikipedia.org&uselang=en" class=""><span>Donate</span></a> </li> <li id="pt-createaccount-2" class="user-links-collapsible-item mw-list-item user-links-collapsible-item"><a data-mw="interface" href="/w/index.php?title=Special:CreateAccount&returnto=Partnership" title="You are encouraged to create an account and log in; however, it is not mandatory" class=""><span>Create account</span></a> </li> <li id="pt-login-2" class="user-links-collapsible-item mw-list-item user-links-collapsible-item"><a data-mw="interface" href="/w/index.php?title=Special:UserLogin&returnto=Partnership" title="You're encouraged to log in; however, it's not mandatory. [o]" accesskey="o" class=""><span>Log in</span></a> </li> </ul> </div> </div> </div> <div id="vector-user-links-dropdown" class="vector-dropdown vector-user-menu vector-button-flush-right vector-user-menu-logged-out" title="Log in and more options" > <input type="checkbox" id="vector-user-links-dropdown-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-user-links-dropdown" class="vector-dropdown-checkbox " aria-label="Personal tools" > <label id="vector-user-links-dropdown-label" for="vector-user-links-dropdown-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--icon-only " aria-hidden="true" ><span class="vector-icon mw-ui-icon-ellipsis mw-ui-icon-wikimedia-ellipsis"></span> <span class="vector-dropdown-label-text">Personal tools</span> </label> <div class="vector-dropdown-content"> <div id="p-personal" class="vector-menu mw-portlet mw-portlet-personal user-links-collapsible-item" title="User menu" > <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="pt-sitesupport" class="user-links-collapsible-item mw-list-item"><a href="https://donate.wikimedia.org/wiki/Special:FundraiserRedirector?utm_source=donate&utm_medium=sidebar&utm_campaign=C13_en.wikipedia.org&uselang=en"><span>Donate</span></a></li><li id="pt-createaccount" class="user-links-collapsible-item mw-list-item"><a href="/w/index.php?title=Special:CreateAccount&returnto=Partnership" title="You are encouraged to create an account and log in; however, it is not mandatory"><span class="vector-icon mw-ui-icon-userAdd mw-ui-icon-wikimedia-userAdd"></span> <span>Create account</span></a></li><li id="pt-login" class="user-links-collapsible-item mw-list-item"><a href="/w/index.php?title=Special:UserLogin&returnto=Partnership" title="You're encouraged to log in; however, it's not mandatory. [o]" accesskey="o"><span class="vector-icon mw-ui-icon-logIn mw-ui-icon-wikimedia-logIn"></span> <span>Log in</span></a></li> </ul> </div> </div> <div id="p-user-menu-anon-editor" class="vector-menu mw-portlet mw-portlet-user-menu-anon-editor" > <div class="vector-menu-heading"> Pages for logged out editors <a href="/wiki/Help:Introduction" aria-label="Learn more about editing"><span>learn more</span></a> </div> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="pt-anoncontribs" class="mw-list-item"><a href="/wiki/Special:MyContributions" title="A list of edits made from this IP address [y]" accesskey="y"><span>Contributions</span></a></li><li id="pt-anontalk" class="mw-list-item"><a href="/wiki/Special:MyTalk" title="Discussion about edits from this IP address [n]" accesskey="n"><span>Talk</span></a></li> </ul> </div> </div> </div> </div> </nav> </div> </header> </div> <div class="mw-page-container"> <div class="mw-page-container-inner"> <div class="vector-sitenotice-container"> <div id="siteNotice"></div> </div> <div class="vector-column-start"> <div class="vector-main-menu-container"> <div id="mw-navigation"> <nav id="mw-panel" class="vector-main-menu-landmark" aria-label="Site"> <div id="vector-main-menu-pinned-container" class="vector-pinned-container"> </div> </nav> </div> </div> <div class="vector-sticky-pinned-container"> <nav id="mw-panel-toc" aria-label="Contents" data-event-name="ui.sidebar-toc" class="mw-table-of-contents-container vector-toc-landmark"> <div id="vector-toc-pinned-container" class="vector-pinned-container"> <div id="vector-toc" class="vector-toc vector-pinnable-element"> <div class="vector-pinnable-header vector-toc-pinnable-header vector-pinnable-header-pinned" data-feature-name="toc-pinned" data-pinnable-element-id="vector-toc" > <h2 class="vector-pinnable-header-label">Contents</h2> <button class="vector-pinnable-header-toggle-button vector-pinnable-header-pin-button" data-event-name="pinnable-header.vector-toc.pin">move to sidebar</button> <button class="vector-pinnable-header-toggle-button vector-pinnable-header-unpin-button" data-event-name="pinnable-header.vector-toc.unpin">hide</button> </div> <ul class="vector-toc-contents" id="mw-panel-toc-list"> <li id="toc-mw-content-text" class="vector-toc-list-item vector-toc-level-1"> <a href="#" class="vector-toc-link"> <div class="vector-toc-text">(Top)</div> </a> </li> <li id="toc-History" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#History"> <div class="vector-toc-text"> <span class="vector-toc-numb">1</span> <span>History</span> </div> </a> <ul id="toc-History-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Partnership_agreements" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Partnership_agreements"> <div class="vector-toc-text"> <span class="vector-toc-numb">2</span> <span>Partnership agreements</span> </div> </a> <ul id="toc-Partnership_agreements-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Partner_compensation" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Partner_compensation"> <div class="vector-toc-text"> <span class="vector-toc-numb">3</span> <span>Partner compensation</span> </div> </a> <button aria-controls="toc-Partner_compensation-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Partner compensation subsection</span> </button> <ul id="toc-Partner_compensation-sublist" class="vector-toc-list"> <li id="toc-Equity_vs._salaried_partners" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Equity_vs._salaried_partners"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.1</span> <span>Equity vs. salaried partners</span> </div> </a> <ul id="toc-Equity_vs._salaried_partners-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Law_firms" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Law_firms"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.2</span> <span>Law firms</span> </div> </a> <ul id="toc-Law_firms-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Taxation" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Taxation"> <div class="vector-toc-text"> <span class="vector-toc-numb">4</span> <span>Taxation</span> </div> </a> <ul id="toc-Taxation-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Common_law" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Common_law"> <div class="vector-toc-text"> <span class="vector-toc-numb">5</span> <span>Common law</span> </div> </a> <button aria-controls="toc-Common_law-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Common law subsection</span> </button> <ul id="toc-Common_law-sublist" class="vector-toc-list"> <li id="toc-Forms_of_partnership" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Forms_of_partnership"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.1</span> <span>Forms of partnership</span> </div> </a> <ul id="toc-Forms_of_partnership-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Silent_partners" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Silent_partners"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.2</span> <span>Silent partners</span> </div> </a> <ul id="toc-Silent_partners-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Oceania" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Oceania"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.3</span> <span>Oceania</span> </div> </a> <ul id="toc-Oceania-sublist" class="vector-toc-list"> <li id="toc-Australia" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#Australia"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.3.1</span> <span>Australia</span> </div> </a> <ul id="toc-Australia-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-South_Asia" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#South_Asia"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.4</span> <span>South Asia</span> </div> </a> <ul id="toc-South_Asia-sublist" class="vector-toc-list"> <li id="toc-Bangladesh" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#Bangladesh"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.4.1</span> <span>Bangladesh</span> </div> </a> <ul id="toc-Bangladesh-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-India" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#India"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.4.2</span> <span>India</span> </div> </a> <ul id="toc-India-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-North_America" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#North_America"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.5</span> <span>North America</span> </div> </a> <ul id="toc-North_America-sublist" class="vector-toc-list"> <li id="toc-Canada" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#Canada"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.5.1</span> <span>Canada</span> </div> </a> <ul id="toc-Canada-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-United_States" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#United_States"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.5.2</span> <span>United States</span> </div> </a> <ul id="toc-United_States-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-East_Asia" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#East_Asia"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.6</span> <span>East Asia</span> </div> </a> <ul id="toc-East_Asia-sublist" class="vector-toc-list"> <li id="toc-China" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#China"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.6.1</span> <span>China</span> </div> </a> <ul id="toc-China-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Hong_Kong" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#Hong_Kong"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.6.2</span> <span>Hong Kong</span> </div> </a> <ul id="toc-Hong_Kong-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Europe" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Europe"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.7</span> <span>Europe</span> </div> </a> <ul id="toc-Europe-sublist" class="vector-toc-list"> <li id="toc-United_Kingdom_limited_partnership" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#United_Kingdom_limited_partnership"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.7.1</span> <span>United Kingdom limited partnership</span> </div> </a> <ul id="toc-United_Kingdom_limited_partnership-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> </ul> </li> <li id="toc-See_also" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#See_also"> <div class="vector-toc-text"> <span class="vector-toc-numb">6</span> <span>See also</span> </div> </a> <ul id="toc-See_also-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-References" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#References"> <div class="vector-toc-text"> <span class="vector-toc-numb">7</span> <span>References</span> </div> </a> <ul id="toc-References-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-External_links" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#External_links"> <div class="vector-toc-text"> <span class="vector-toc-numb">8</span> <span>External links</span> </div> </a> <ul id="toc-External_links-sublist" class="vector-toc-list"> </ul> </li> </ul> </div> </div> </nav> </div> </div> <div class="mw-content-container"> <main id="content" class="mw-body"> <header class="mw-body-header vector-page-titlebar"> <nav aria-label="Contents" class="vector-toc-landmark"> <div id="vector-page-titlebar-toc" class="vector-dropdown vector-page-titlebar-toc vector-button-flush-left" > <input type="checkbox" id="vector-page-titlebar-toc-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-page-titlebar-toc" class="vector-dropdown-checkbox " aria-label="Toggle the table of contents" > <label id="vector-page-titlebar-toc-label" for="vector-page-titlebar-toc-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--icon-only " aria-hidden="true" ><span class="vector-icon mw-ui-icon-listBullet mw-ui-icon-wikimedia-listBullet"></span> <span class="vector-dropdown-label-text">Toggle the table of contents</span> </label> <div class="vector-dropdown-content"> <div id="vector-page-titlebar-toc-unpinned-container" class="vector-unpinned-container"> </div> </div> </div> </nav> <h1 id="firstHeading" class="firstHeading mw-first-heading"><span class="mw-page-title-main">Partnership</span></h1> <div id="p-lang-btn" class="vector-dropdown mw-portlet mw-portlet-lang" > <input type="checkbox" id="p-lang-btn-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-p-lang-btn" class="vector-dropdown-checkbox mw-interlanguage-selector" aria-label="Go to an article in another language. Available in 45 languages" > <label id="p-lang-btn-label" for="p-lang-btn-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--action-progressive mw-portlet-lang-heading-45" aria-hidden="true" ><span class="vector-icon mw-ui-icon-language-progressive mw-ui-icon-wikimedia-language-progressive"></span> <span class="vector-dropdown-label-text">45 languages</span> </label> <div class="vector-dropdown-content"> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li class="interlanguage-link interwiki-ar mw-list-item"><a href="https://ar.wikipedia.org/wiki/%D8%B4%D8%B1%D8%A7%D9%83%D8%A9" title="شراكة – Arabic" lang="ar" hreflang="ar" data-title="شراكة" data-language-autonym="العربية" data-language-local-name="Arabic" class="interlanguage-link-target"><span>العربية</span></a></li><li class="interlanguage-link interwiki-ast mw-list-item"><a href="https://ast.wikipedia.org/wiki/Socied%C3%A1_de_negocios" title="Sociedá de negocios – Asturian" lang="ast" hreflang="ast" data-title="Sociedá de negocios" data-language-autonym="Asturianu" data-language-local-name="Asturian" class="interlanguage-link-target"><span>Asturianu</span></a></li><li class="interlanguage-link interwiki-bn mw-list-item"><a href="https://bn.wikipedia.org/wiki/%E0%A6%85%E0%A6%82%E0%A6%B6%E0%A7%80%E0%A6%A6%E0%A6%BE%E0%A6%B0%E0%A6%BF_%E0%A6%95%E0%A6%BE%E0%A6%B0%E0%A6%AC%E0%A6%BE%E0%A6%B0" title="অংশীদারি কারবার – Bangla" lang="bn" hreflang="bn" data-title="অংশীদারি কারবার" data-language-autonym="বাংলা" data-language-local-name="Bangla" class="interlanguage-link-target"><span>বাংলা</span></a></li><li class="interlanguage-link interwiki-bs mw-list-item"><a href="https://bs.wikipedia.org/wiki/Trgova%C4%8Dka_dru%C5%A1tva" title="Trgovačka društva – Bosnian" lang="bs" hreflang="bs" data-title="Trgovačka društva" data-language-autonym="Bosanski" data-language-local-name="Bosnian" class="interlanguage-link-target"><span>Bosanski</span></a></li><li class="interlanguage-link interwiki-ca mw-list-item"><a href="https://ca.wikipedia.org/wiki/Societat_de_negocis" title="Societat de negocis – Catalan" lang="ca" hreflang="ca" data-title="Societat de negocis" data-language-autonym="Català" data-language-local-name="Catalan" class="interlanguage-link-target"><span>Català</span></a></li><li class="interlanguage-link interwiki-cs mw-list-item"><a href="https://cs.wikipedia.org/wiki/Partnerstv%C3%AD" title="Partnerství – Czech" lang="cs" hreflang="cs" data-title="Partnerství" data-language-autonym="Čeština" data-language-local-name="Czech" class="interlanguage-link-target"><span>Čeština</span></a></li><li class="interlanguage-link interwiki-da mw-list-item"><a href="https://da.wikipedia.org/wiki/Interessentskab" title="Interessentskab – Danish" lang="da" hreflang="da" data-title="Interessentskab" data-language-autonym="Dansk" data-language-local-name="Danish" class="interlanguage-link-target"><span>Dansk</span></a></li><li class="interlanguage-link interwiki-de mw-list-item"><a href="https://de.wikipedia.org/wiki/Personengesellschaft" title="Personengesellschaft – German" lang="de" hreflang="de" data-title="Personengesellschaft" data-language-autonym="Deutsch" data-language-local-name="German" class="interlanguage-link-target"><span>Deutsch</span></a></li><li class="interlanguage-link interwiki-es mw-list-item"><a href="https://es.wikipedia.org/wiki/Sociedad_de_negocios" title="Sociedad de negocios – Spanish" lang="es" hreflang="es" data-title="Sociedad de negocios" data-language-autonym="Español" data-language-local-name="Spanish" class="interlanguage-link-target"><span>Español</span></a></li><li class="interlanguage-link interwiki-eu mw-list-item"><a href="https://eu.wikipedia.org/wiki/Sozietate" title="Sozietate – Basque" lang="eu" hreflang="eu" data-title="Sozietate" data-language-autonym="Euskara" data-language-local-name="Basque" class="interlanguage-link-target"><span>Euskara</span></a></li><li class="interlanguage-link interwiki-fa mw-list-item"><a href="https://fa.wikipedia.org/wiki/%D8%B4%D8%B1%D8%A7%DA%A9%D8%AA" title="شراکت – Persian" lang="fa" hreflang="fa" data-title="شراکت" data-language-autonym="فارسی" data-language-local-name="Persian" class="interlanguage-link-target"><span>فارسی</span></a></li><li class="interlanguage-link interwiki-fr mw-list-item"><a href="https://fr.wikipedia.org/wiki/Partenariat" title="Partenariat – French" lang="fr" hreflang="fr" data-title="Partenariat" data-language-autonym="Français" data-language-local-name="French" class="interlanguage-link-target"><span>Français</span></a></li><li class="interlanguage-link interwiki-ga mw-list-item"><a href="https://ga.wikipedia.org/wiki/Comhph%C3%A1irt%C3%ADocht_ghn%C3%B3" title="Comhpháirtíocht ghnó – Irish" lang="ga" hreflang="ga" data-title="Comhpháirtíocht ghnó" data-language-autonym="Gaeilge" data-language-local-name="Irish" class="interlanguage-link-target"><span>Gaeilge</span></a></li><li class="interlanguage-link interwiki-gu mw-list-item"><a href="https://gu.wikipedia.org/wiki/%E0%AA%AD%E0%AA%BE%E0%AA%97%E0%AB%80%E0%AA%A6%E0%AA%BE%E0%AA%B0%E0%AB%80_%E0%AA%95%E0%AA%B0%E0%AA%BE%E0%AA%B0%E0%AA%A8%E0%AA%BE%E0%AA%AE%E0%AB%81%E0%AA%82" title="ભાગીદારી કરારનામું – Gujarati" lang="gu" hreflang="gu" data-title="ભાગીદારી કરારનામું" data-language-autonym="ગુજરાતી" data-language-local-name="Gujarati" class="interlanguage-link-target"><span>ગુજરાતી</span></a></li><li class="interlanguage-link interwiki-ko mw-list-item"><a href="https://ko.wikipedia.org/wiki/%ED%8C%8C%ED%8A%B8%EB%84%88%EC%8B%AD" title="파트너십 – Korean" lang="ko" hreflang="ko" data-title="파트너십" data-language-autonym="한국어" data-language-local-name="Korean" class="interlanguage-link-target"><span>한국어</span></a></li><li class="interlanguage-link interwiki-hi mw-list-item"><a href="https://hi.wikipedia.org/wiki/%E0%A4%AD%E0%A4%BE%E0%A4%97%E0%A5%80%E0%A4%A6%E0%A4%BE%E0%A4%B0%E0%A5%80" title="भागीदारी – Hindi" lang="hi" hreflang="hi" data-title="भागीदारी" data-language-autonym="हिन्दी" data-language-local-name="Hindi" class="interlanguage-link-target"><span>हिन्दी</span></a></li><li class="interlanguage-link interwiki-hr badge-Q70893996 mw-list-item" title=""><a href="https://hr.wikipedia.org/wiki/Dru%C5%A1tvo_osoba" title="Društvo osoba – Croatian" lang="hr" hreflang="hr" data-title="Društvo osoba" data-language-autonym="Hrvatski" data-language-local-name="Croatian" class="interlanguage-link-target"><span>Hrvatski</span></a></li><li class="interlanguage-link interwiki-id mw-list-item"><a href="https://id.wikipedia.org/wiki/Kemitraan" title="Kemitraan – Indonesian" lang="id" hreflang="id" data-title="Kemitraan" data-language-autonym="Bahasa Indonesia" data-language-local-name="Indonesian" class="interlanguage-link-target"><span>Bahasa Indonesia</span></a></li><li class="interlanguage-link interwiki-it mw-list-item"><a href="https://it.wikipedia.org/wiki/Partenariato" title="Partenariato – Italian" lang="it" hreflang="it" data-title="Partenariato" data-language-autonym="Italiano" data-language-local-name="Italian" class="interlanguage-link-target"><span>Italiano</span></a></li><li class="interlanguage-link interwiki-he mw-list-item"><a href="https://he.wikipedia.org/wiki/%D7%A9%D7%95%D7%AA%D7%A4%D7%95%D7%AA" title="שותפות – Hebrew" lang="he" hreflang="he" data-title="שותפות" data-language-autonym="עברית" data-language-local-name="Hebrew" class="interlanguage-link-target"><span>עברית</span></a></li><li class="interlanguage-link interwiki-kn mw-list-item"><a href="https://kn.wikipedia.org/wiki/%E0%B2%AA%E0%B2%BE%E0%B2%B2%E0%B3%81%E0%B2%A6%E0%B2%BE%E0%B2%B0%E0%B2%BF%E0%B2%95%E0%B3%86_%E0%B2%B8%E0%B2%82%E0%B2%B8%E0%B3%8D%E0%B2%A5%E0%B3%86%E0%B2%97%E0%B2%B3%E0%B3%81" title="ಪಾಲುದಾರಿಕೆ ಸಂಸ್ಥೆಗಳು – Kannada" lang="kn" hreflang="kn" data-title="ಪಾಲುದಾರಿಕೆ ಸಂಸ್ಥೆಗಳು" data-language-autonym="ಕನ್ನಡ" data-language-local-name="Kannada" class="interlanguage-link-target"><span>ಕನ್ನಡ</span></a></li><li class="interlanguage-link interwiki-lt mw-list-item"><a href="https://lt.wikipedia.org/wiki/Partneryst%C4%97" title="Partnerystė – Lithuanian" lang="lt" hreflang="lt" data-title="Partnerystė" data-language-autonym="Lietuvių" data-language-local-name="Lithuanian" class="interlanguage-link-target"><span>Lietuvių</span></a></li><li class="interlanguage-link interwiki-mk mw-list-item"><a href="https://mk.wikipedia.org/wiki/%D0%9F%D0%B0%D1%80%D1%82%D0%BD%D0%B5%D1%80%D1%81%D1%82%D0%B2%D0%BE" title="Партнерство – Macedonian" lang="mk" hreflang="mk" data-title="Партнерство" data-language-autonym="Македонски" data-language-local-name="Macedonian" class="interlanguage-link-target"><span>Македонски</span></a></li><li class="interlanguage-link interwiki-mzn mw-list-item"><a href="https://mzn.wikipedia.org/wiki/%D9%87%D9%85%D8%A8%D8%A7%D8%B2%DB%8C" title="همبازی – Mazanderani" lang="mzn" hreflang="mzn" data-title="همبازی" data-language-autonym="مازِرونی" data-language-local-name="Mazanderani" class="interlanguage-link-target"><span>مازِرونی</span></a></li><li class="interlanguage-link interwiki-ne mw-list-item"><a href="https://ne.wikipedia.org/wiki/%E0%A4%B8%E0%A4%BE%E0%A4%9D%E0%A5%87%E0%A4%A6%E0%A4%BE%E0%A4%B0%E0%A5%80" title="साझेदारी – Nepali" lang="ne" hreflang="ne" data-title="साझेदारी" data-language-autonym="नेपाली" data-language-local-name="Nepali" class="interlanguage-link-target"><span>नेपाली</span></a></li><li class="interlanguage-link interwiki-ja mw-list-item"><a href="https://ja.wikipedia.org/wiki/%E3%83%91%E3%83%BC%E3%83%88%E3%83%8A%E3%83%BC%E3%82%B7%E3%83%83%E3%83%97" title="パートナーシップ – Japanese" lang="ja" hreflang="ja" data-title="パートナーシップ" data-language-autonym="日本語" data-language-local-name="Japanese" class="interlanguage-link-target"><span>日本語</span></a></li><li class="interlanguage-link interwiki-no mw-list-item"><a href="https://no.wikipedia.org/wiki/Interessentskap" title="Interessentskap – Norwegian Bokmål" lang="nb" hreflang="nb" data-title="Interessentskap" data-language-autonym="Norsk bokmål" data-language-local-name="Norwegian Bokmål" class="interlanguage-link-target"><span>Norsk bokmål</span></a></li><li class="interlanguage-link interwiki-pa mw-list-item"><a href="https://pa.wikipedia.org/wiki/%E0%A8%AD%E0%A8%BE%E0%A8%88%E0%A8%B5%E0%A8%BE%E0%A8%B2%E0%A9%80" title="ਭਾਈਵਾਲੀ – Punjabi" lang="pa" hreflang="pa" data-title="ਭਾਈਵਾਲੀ" data-language-autonym="ਪੰਜਾਬੀ" data-language-local-name="Punjabi" class="interlanguage-link-target"><span>ਪੰਜਾਬੀ</span></a></li><li class="interlanguage-link interwiki-pl mw-list-item"><a href="https://pl.wikipedia.org/wiki/Sp%C3%B3%C5%82ka_osobowa" title="Spółka osobowa – Polish" lang="pl" hreflang="pl" data-title="Spółka osobowa" data-language-autonym="Polski" data-language-local-name="Polish" class="interlanguage-link-target"><span>Polski</span></a></li><li class="interlanguage-link interwiki-pt mw-list-item"><a href="https://pt.wikipedia.org/wiki/Parceria" title="Parceria – Portuguese" lang="pt" hreflang="pt" data-title="Parceria" data-language-autonym="Português" data-language-local-name="Portuguese" class="interlanguage-link-target"><span>Português</span></a></li><li class="interlanguage-link interwiki-ru mw-list-item"><a href="https://ru.wikipedia.org/wiki/%D0%A2%D0%BE%D0%B2%D0%B0%D1%80%D0%B8%D1%89%D0%B5%D1%81%D1%82%D0%B2%D0%BE" title="Товарищество – Russian" lang="ru" hreflang="ru" data-title="Товарищество" data-language-autonym="Русский" data-language-local-name="Russian" class="interlanguage-link-target"><span>Русский</span></a></li><li class="interlanguage-link interwiki-sq mw-list-item"><a href="https://sq.wikipedia.org/wiki/Partneriteti" title="Partneriteti – Albanian" lang="sq" hreflang="sq" data-title="Partneriteti" data-language-autonym="Shqip" data-language-local-name="Albanian" class="interlanguage-link-target"><span>Shqip</span></a></li><li class="interlanguage-link interwiki-simple mw-list-item"><a href="https://simple.wikipedia.org/wiki/Partnership" title="Partnership – Simple English" lang="en-simple" hreflang="en-simple" data-title="Partnership" data-language-autonym="Simple English" data-language-local-name="Simple English" class="interlanguage-link-target"><span>Simple English</span></a></li><li class="interlanguage-link interwiki-sr mw-list-item"><a href="https://sr.wikipedia.org/wiki/%D0%9F%D0%B0%D1%80%D1%82%D0%BD%D0%B5%D1%80%D1%81%D1%82%D0%B2%D0%BE" title="Партнерство – Serbian" lang="sr" hreflang="sr" data-title="Партнерство" data-language-autonym="Српски / srpski" data-language-local-name="Serbian" class="interlanguage-link-target"><span>Српски / srpski</span></a></li><li class="interlanguage-link interwiki-sv mw-list-item"><a href="https://sv.wikipedia.org/wiki/Enkelt_bolag" title="Enkelt bolag – Swedish" lang="sv" hreflang="sv" data-title="Enkelt bolag" data-language-autonym="Svenska" data-language-local-name="Swedish" class="interlanguage-link-target"><span>Svenska</span></a></li><li class="interlanguage-link interwiki-tl mw-list-item"><a href="https://tl.wikipedia.org/wiki/Ugnayang_matalik" title="Ugnayang matalik – Tagalog" lang="tl" hreflang="tl" data-title="Ugnayang matalik" data-language-autonym="Tagalog" data-language-local-name="Tagalog" class="interlanguage-link-target"><span>Tagalog</span></a></li><li class="interlanguage-link interwiki-ta mw-list-item"><a href="https://ta.wikipedia.org/wiki/%E0%AE%95%E0%AF%82%E0%AE%9F%E0%AF%8D%E0%AE%9F%E0%AE%BE%E0%AE%A3%E0%AF%8D%E0%AE%AE%E0%AF%88" title="கூட்டாண்மை – Tamil" lang="ta" hreflang="ta" data-title="கூட்டாண்மை" data-language-autonym="தமிழ்" data-language-local-name="Tamil" class="interlanguage-link-target"><span>தமிழ்</span></a></li><li class="interlanguage-link interwiki-th mw-list-item"><a href="https://th.wikipedia.org/wiki/%E0%B8%AB%E0%B9%89%E0%B8%B2%E0%B8%87%E0%B8%AB%E0%B8%B8%E0%B9%89%E0%B8%99%E0%B8%AA%E0%B9%88%E0%B8%A7%E0%B8%99" title="ห้างหุ้นส่วน – Thai" lang="th" hreflang="th" data-title="ห้างหุ้นส่วน" data-language-autonym="ไทย" data-language-local-name="Thai" class="interlanguage-link-target"><span>ไทย</span></a></li><li class="interlanguage-link interwiki-uk mw-list-item"><a href="https://uk.wikipedia.org/wiki/%D0%9F%D0%B0%D1%80%D1%82%D0%BD%D0%B5%D1%80%D1%81%D1%82%D0%B2%D0%BE" title="Партнерство – Ukrainian" lang="uk" hreflang="uk" data-title="Партнерство" data-language-autonym="Українська" data-language-local-name="Ukrainian" class="interlanguage-link-target"><span>Українська</span></a></li><li class="interlanguage-link interwiki-ur mw-list-item"><a href="https://ur.wikipedia.org/wiki/%D8%B4%D8%B1%D8%A7%DA%A9%D8%AA" title="شراکت – Urdu" lang="ur" hreflang="ur" data-title="شراکت" data-language-autonym="اردو" data-language-local-name="Urdu" class="interlanguage-link-target"><span>اردو</span></a></li><li class="interlanguage-link interwiki-vi mw-list-item"><a href="https://vi.wikipedia.org/wiki/C%C3%B4ng_ty_h%E1%BB%A3p_danh" title="Công ty hợp danh – Vietnamese" lang="vi" hreflang="vi" data-title="Công ty hợp danh" data-language-autonym="Tiếng Việt" data-language-local-name="Vietnamese" class="interlanguage-link-target"><span>Tiếng Việt</span></a></li><li class="interlanguage-link interwiki-wuu mw-list-item"><a href="https://wuu.wikipedia.org/wiki/%E5%90%88%E4%BC%99%E4%BC%81%E4%B8%9A" title="合伙企业 – Wu" lang="wuu" hreflang="wuu" data-title="合伙企业" data-language-autonym="吴语" data-language-local-name="Wu" class="interlanguage-link-target"><span>吴语</span></a></li><li class="interlanguage-link interwiki-yi mw-list-item"><a href="https://yi.wikipedia.org/wiki/%D7%A9%D7%95%D7%AA%D7%A4%D7%95%D7%AA" title="שותפות – Yiddish" lang="yi" hreflang="yi" data-title="שותפות" data-language-autonym="ייִדיש" data-language-local-name="Yiddish" class="interlanguage-link-target"><span>ייִדיש</span></a></li><li class="interlanguage-link interwiki-zh-yue mw-list-item"><a href="https://zh-yue.wikipedia.org/wiki/%E5%90%88%E5%A4%A5%E4%BC%81%E6%A5%AD" title="合夥企業 – Cantonese" lang="yue" hreflang="yue" data-title="合夥企業" data-language-autonym="粵語" data-language-local-name="Cantonese" class="interlanguage-link-target"><span>粵語</span></a></li><li class="interlanguage-link interwiki-zh mw-list-item"><a href="https://zh.wikipedia.org/wiki/%E5%90%88%E4%BC%99%E4%BC%81%E4%B8%9A" title="合伙企业 – Chinese" lang="zh" hreflang="zh" data-title="合伙企业" data-language-autonym="中文" data-language-local-name="Chinese" class="interlanguage-link-target"><span>中文</span></a></li> </ul> <div class="after-portlet after-portlet-lang"><span class="wb-langlinks-edit wb-langlinks-link"><a href="https://www.wikidata.org/wiki/Special:EntityPage/Q728646#sitelinks-wikipedia" title="Edit interlanguage links" class="wbc-editpage">Edit links</a></span></div> </div> </div> </div> </header> <div class="vector-page-toolbar"> <div class="vector-page-toolbar-container"> <div id="left-navigation"> <nav aria-label="Namespaces"> <div id="p-associated-pages" class="vector-menu vector-menu-tabs mw-portlet mw-portlet-associated-pages" > <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="ca-nstab-main" class="selected vector-tab-noicon mw-list-item"><a href="/wiki/Partnership" title="View the content page [c]" accesskey="c"><span>Article</span></a></li><li id="ca-talk" class="vector-tab-noicon mw-list-item"><a href="/wiki/Talk:Partnership" rel="discussion" title="Discuss improvements to the content page [t]" accesskey="t"><span>Talk</span></a></li> </ul> </div> </div> <div id="vector-variants-dropdown" class="vector-dropdown emptyPortlet" > <input type="checkbox" id="vector-variants-dropdown-checkbox" role="button" aria-haspopup="true" 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data-event-name="pinnable-header.vector-page-tools.unpin">hide</button> </div> <div id="p-cactions" class="vector-menu mw-portlet mw-portlet-cactions emptyPortlet vector-has-collapsible-items" title="More options" > <div class="vector-menu-heading"> Actions </div> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="ca-more-view" class="selected vector-more-collapsible-item mw-list-item"><a href="/wiki/Partnership"><span>Read</span></a></li><li id="ca-more-edit" class="vector-more-collapsible-item mw-list-item"><a href="/w/index.php?title=Partnership&action=edit" title="Edit this page [e]" accesskey="e"><span>Edit</span></a></li><li id="ca-more-history" class="vector-more-collapsible-item mw-list-item"><a href="/w/index.php?title=Partnership&action=history"><span>View history</span></a></li> </ul> </div> </div> <div id="p-tb" class="vector-menu mw-portlet mw-portlet-tb" > <div class="vector-menu-heading"> General </div> <div class="vector-menu-content"> <ul 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link</span></a></li><li id="t-info" class="mw-list-item"><a href="/w/index.php?title=Partnership&action=info" title="More information about this page"><span>Page information</span></a></li><li id="t-cite" class="mw-list-item"><a href="/w/index.php?title=Special:CiteThisPage&page=Partnership&id=1254686305&wpFormIdentifier=titleform" title="Information on how to cite this page"><span>Cite this page</span></a></li><li id="t-urlshortener" class="mw-list-item"><a href="/w/index.php?title=Special:UrlShortener&url=https%3A%2F%2Fen.wikipedia.org%2Fwiki%2FPartnership"><span>Get shortened URL</span></a></li><li id="t-urlshortener-qrcode" class="mw-list-item"><a href="/w/index.php?title=Special:QrCode&url=https%3A%2F%2Fen.wikipedia.org%2Fwiki%2FPartnership"><span>Download QR code</span></a></li> </ul> </div> </div> <div id="p-coll-print_export" class="vector-menu mw-portlet mw-portlet-coll-print_export" > <div class="vector-menu-heading"> Print/export </div> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="coll-download-as-rl" class="mw-list-item"><a href="/w/index.php?title=Special:DownloadAsPdf&page=Partnership&action=show-download-screen" title="Download this page as a PDF file"><span>Download as PDF</span></a></li><li id="t-print" class="mw-list-item"><a href="/w/index.php?title=Partnership&printable=yes" title="Printable version of this page [p]" accesskey="p"><span>Printable version</span></a></li> </ul> </div> </div> <div id="p-wikibase-otherprojects" class="vector-menu mw-portlet mw-portlet-wikibase-otherprojects" > <div class="vector-menu-heading"> In other projects </div> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li class="wb-otherproject-link wb-otherproject-commons mw-list-item"><a href="https://commons.wikimedia.org/wiki/Category:Partnerships" hreflang="en"><span>Wikimedia Commons</span></a></li><li id="t-wikibase" class="wb-otherproject-link wb-otherproject-wikibase-dataitem mw-list-item"><a href="https://www.wikidata.org/wiki/Special:EntityPage/Q728646" title="Structured data on this page hosted by Wikidata [g]" accesskey="g"><span>Wikidata item</span></a></li> </ul> </div> </div> </div> </div> </div> </div> </nav> </div> </div> </div> <div class="vector-column-end"> <div class="vector-sticky-pinned-container"> <nav class="vector-page-tools-landmark" aria-label="Page tools"> <div id="vector-page-tools-pinned-container" class="vector-pinned-container"> </div> </nav> <nav class="vector-appearance-landmark" aria-label="Appearance"> <div id="vector-appearance-pinned-container" class="vector-pinned-container"> <div id="vector-appearance" class="vector-appearance vector-pinnable-element"> <div class="vector-pinnable-header vector-appearance-pinnable-header vector-pinnable-header-pinned" data-feature-name="appearance-pinned" data-pinnable-element-id="vector-appearance" data-pinned-container-id="vector-appearance-pinned-container" data-unpinned-container-id="vector-appearance-unpinned-container" > <div class="vector-pinnable-header-label">Appearance</div> <button class="vector-pinnable-header-toggle-button vector-pinnable-header-pin-button" data-event-name="pinnable-header.vector-appearance.pin">move to sidebar</button> <button class="vector-pinnable-header-toggle-button vector-pinnable-header-unpin-button" data-event-name="pinnable-header.vector-appearance.unpin">hide</button> </div> </div> </div> </nav> </div> </div> <div id="bodyContent" class="vector-body" aria-labelledby="firstHeading" data-mw-ve-target-container> <div class="vector-body-before-content"> <div class="mw-indicators"> </div> <div id="siteSub" class="noprint">From Wikipedia, the free encyclopedia</div> </div> <div id="contentSub"><div id="mw-content-subtitle"></div></div> <div id="mw-content-text" class="mw-body-content"><div class="mw-content-ltr mw-parser-output" lang="en" dir="ltr"><div class="shortdescription nomobile noexcerpt noprint searchaux" style="display:none">Business organization in which parties cooperate in an endeavor</div> <style data-mw-deduplicate="TemplateStyles:r1236090951">.mw-parser-output .hatnote{font-style:italic}.mw-parser-output div.hatnote{padding-left:1.6em;margin-bottom:0.5em}.mw-parser-output .hatnote i{font-style:normal}.mw-parser-output .hatnote+link+.hatnote{margin-top:-0.5em}@media print{body.ns-0 .mw-parser-output .hatnote{display:none!important}}</style><div role="note" class="hatnote navigation-not-searchable">This article is about business partnerships. For other uses, see <a href="/wiki/Partnership_(disambiguation)" class="mw-disambig" title="Partnership (disambiguation)">Partnership (disambiguation)</a>.</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">"Senior Partner" redirects here. For the portable computer, see <a href="/wiki/Panasonic_Senior_Partner" title="Panasonic Senior Partner">Panasonic Senior Partner</a>.</div> <style data-mw-deduplicate="TemplateStyles:r1129693374">.mw-parser-output .hlist dl,.mw-parser-output .hlist ol,.mw-parser-output .hlist ul{margin:0;padding:0}.mw-parser-output .hlist dd,.mw-parser-output .hlist dt,.mw-parser-output .hlist li{margin:0;display:inline}.mw-parser-output .hlist.inline,.mw-parser-output .hlist.inline dl,.mw-parser-output .hlist.inline ol,.mw-parser-output .hlist.inline ul,.mw-parser-output .hlist dl dl,.mw-parser-output .hlist dl ol,.mw-parser-output .hlist dl ul,.mw-parser-output .hlist ol dl,.mw-parser-output .hlist ol ol,.mw-parser-output .hlist ol ul,.mw-parser-output .hlist ul dl,.mw-parser-output .hlist ul ol,.mw-parser-output .hlist ul ul{display:inline}.mw-parser-output .hlist .mw-empty-li{display:none}.mw-parser-output .hlist dt::after{content:": "}.mw-parser-output .hlist dd::after,.mw-parser-output .hlist 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rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1246091330"><table class="sidebar sidebar-collapse nomobile nowraplinks vcard hlist"><tbody><tr><td class="sidebar-pretitle">This article is part of <a href="/wiki/Category:Corporate_law" title="Category:Corporate law">a series</a> on</td></tr><tr><th class="sidebar-title-with-pretitle"><a href="/wiki/Corporate_law" title="Corporate law">Corporate law</a></th></tr><tr><td class="sidebar-image"><span typeof="mw:File"><a href="/wiki/File:Society.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/5/5b/Society.svg/200px-Society.svg.png" decoding="async" width="200" height="79" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/5b/Society.svg/300px-Society.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/5b/Society.svg/400px-Society.svg.png 2x" data-file-width="96" data-file-height="38" /></a></span></td></tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align:center; background:lavender; line-height:130%; padding:0.3em 0em;;color: var(--color-base)">By jurisdiction</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Anguillan_company_law" title="Anguillan company law">Anguilla</a></li> <li><a href="/wiki/Australian_corporate_law" title="Australian corporate law">Australia</a></li> <li><a href="/wiki/British_Virgin_Islands_company_law" title="British Virgin Islands company law">BVI</a></li> <li><a href="/wiki/Canadian_corporate_law" title="Canadian corporate law">Canada</a></li> <li><a href="/wiki/Cayman_Islands_company_law" title="Cayman Islands company law">Cayman Islands</a></li> <li><a href="/wiki/Indian_company_law" title="Indian company law">India</a></li> <li><a href="/wiki/South_African_company_law" title="South African company law">South Africa</a></li> <li><a href="/wiki/United_Kingdom_company_law" title="United Kingdom company law">UK</a></li> <li><a href="/wiki/United_States_corporate_law" title="United States corporate law">United States</a></li> <li><a href="/wiki/Corporate_law_in_Vietnam" title="Corporate law in Vietnam">Vietnam</a></li> <li><br /><a href="/wiki/European_corporate_law" class="mw-redirect" title="European corporate law">European Union</a> <ul><li><a href="/wiki/French_company_law" title="French company law">France</a></li> <li><a href="/wiki/German_company_law" title="German company law">Germany</a></li></ul></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align:center; background:lavender; line-height:130%; padding:0.3em 0em;;color: var(--color-base)">General corporate forms</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Company" title="Company">Company</a></li> <li><a href="/wiki/Conglomerate_(company)" title="Conglomerate (company)">Conglomerate</a></li> <li><a href="/wiki/Cooperative" title="Cooperative">Cooperative</a></li> <li><a href="/wiki/Corporation" title="Corporation">Corporation</a></li> <li><a href="/wiki/Holding_company" title="Holding company">Holding company</a></li> <li><a href="/wiki/Joint-stock_company" title="Joint-stock company">Joint-stock</a></li> <li><a class="mw-selflink selflink">Partnership</a> <ul><li><a href="/wiki/General_partnership" title="General partnership">General</a></li> <li><a href="/wiki/Limited_partnership" title="Limited partnership">Limited</a></li> <li><a href="/wiki/Limited_liability_partnership" title="Limited liability partnership">Limited liability</a></li></ul></li> <li><a href="/wiki/Private_limited_company" title="Private limited company">Private limited</a></li> <li><a href="/wiki/Shell_corporation" title="Shell corporation">Shell corporation</a></li> <li><a href="/wiki/Shelf_corporation" title="Shelf corporation">Shelf corporation</a></li> <li><a href="/wiki/Sole_proprietorship" title="Sole proprietorship">Sole proprietorship</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align:center; background:lavender; line-height:130%; padding:0.3em 0em;;color: var(--color-base)"><a href="/wiki/List_of_legal_entity_types_by_country" title="List of legal entity types by country">Corporate forms<br />by jurisdiction</a></div><div class="sidebar-list-content mw-collapsible-content"><table class="sidebar nomobile nowraplinks" style="background-color: transparent; color: var( --color-base ); border-collapse:collapse; border-spacing:0px; border:none; width:100%; margin:0px; font-size:100%; clear:none; float:none"><tbody><tr><th class="sidebar-heading"> <a href="/wiki/European_corporate_law" class="mw-redirect" title="European corporate law">European Union</a></th></tr><tr><td class="sidebar-content" style="border-bottom:#ccc 1px solid"> <ul><li><a href="/wiki/Societas_Europaea" title="Societas Europaea"><i>Societas</i> <span style="font-size:85%;">(SE)</span></a></li> <li><a href="/wiki/Societas_cooperativa_Europaea" title="Societas cooperativa Europaea"><i>Societas cooperativa</i> <span style="font-size:85%;">(SCE)</span></a></li> <li><a href="/wiki/Societas_privata_Europaea" title="Societas privata Europaea"><i>Societas privata</i> <span style="font-size:85%;">(SPE)</span></a></li> <li><a href="/wiki/Societas_unius_personae" title="Societas unius personae"><i>Societas unius personae</i> <span style="font-size:85%;">(SUP)</span></a></li> <li><a href="/wiki/European_economic_interest_grouping" title="European economic interest grouping">Economic interest grouping <span style="font-size:85%;">(EEIG)</span></a></li></ul></td> </tr><tr><th class="sidebar-heading"> <span class="nowrap">UK / Ireland / Commonwealth</span></th></tr><tr><td class="sidebar-content" style="border-bottom:#ccc 1px solid"> <ul><li><a href="/wiki/Charitable_incorporated_organisation" title="Charitable incorporated organisation">Charitable incorporated organisation (England and Wales) <span style="font-size:85%;">(CIO)</span></a></li> <li><a href="/wiki/Scottish_charitable_incorporated_organisation" title="Scottish charitable incorporated organisation">Scottish charitable incorporated organisation <span style="font-size:85%;">(SCIO)</span></a></li> <li><a href="/wiki/Community_interest_company" title="Community interest company">Community interest company <span style="font-size:85%;">(CIC)</span></a></li> <li><a href="/wiki/Industrial_and_provident_society" title="Industrial and provident society">Industrial and provident society <span style="font-size:85%;">(IPS)</span></a></li> <li><br /><a href="/wiki/Limited_company" title="Limited company">Limited company <span style="font-size:85%;">(Ltd.)</span></a> <ul><li><a href="/wiki/Private_company_limited_by_guarantee" class="mw-redirect" title="Private company limited by guarantee">by guarantee</a></li> <li><a href="/wiki/Private_company_limited_by_shares" title="Private company limited by shares">by shares</a></li> <li><a href="/wiki/Proprietary_company" title="Proprietary company">proprietary</a></li> <li><a href="/wiki/Public_limited_company" title="Public limited company">public</a></li></ul></li> <li><a href="/wiki/Unlimited_company" title="Unlimited company">Unlimited company</a></li></ul></td> </tr><tr><th class="sidebar-heading"> United States</th></tr><tr><td class="sidebar-content" style="border-bottom:#ccc 1px solid"> <ul><li><a href="/wiki/Benefit_corporation" title="Benefit corporation">Benefit corporation</a></li> <li><a href="/wiki/C_corporation" title="C corporation">C corporation</a></li> <li><a href="/wiki/Limited_liability_company" title="Limited liability company">Limited liability company <span style="font-size:85%;">(LLC)</span></a> <ul><li><a href="/wiki/Low-profit_limited_liability_company" title="Low-profit limited liability company">Low-profit LLC</a></li></ul></li> <li><a href="/wiki/Series_LLC" title="Series LLC">Series LLC</a></li> <li><a href="/wiki/Limited_liability_limited_partnership" title="Limited liability limited partnership">Limited liability limited partnership <span style="font-size:85%;">(LLLP)</span></a></li> <li><a href="/wiki/S_corporation" title="S corporation">S corporation</a></li> <li><span class="nowrap"><a href="/wiki/Delaware_General_Corporation_Law" title="Delaware General Corporation Law">Delaware corporation</a> / <a href="/wiki/Delaware_statutory_trust" title="Delaware statutory trust">statutory trust</a></span></li> <li><a href="/wiki/Massachusetts_business_trust" title="Massachusetts business trust">Massachusetts business trust</a></li> <li><a href="/wiki/Nevada_corporation" title="Nevada corporation">Nevada corporation</a></li></ul></td> </tr><tr><th class="sidebar-heading"> Others</th></tr><tr><td class="sidebar-content" style="border-bottom:#ccc 1px solid"> <ul><li><a href="/wiki/Aktiebolag" title="Aktiebolag"><i>Aktiebolag</i> <span style="font-size:85%;">(AB)</span></a></li> <li><a href="/wiki/Aktiengesellschaft" title="Aktiengesellschaft"><i>Aktiengesellschaft</i> <span style="font-size:85%;">(AG)</span></a></li> <li><a href="/wiki/Ansvarlig_selskap" title="Ansvarlig selskap"><i>Ansvarlig selskap</i> <span style="font-size:85%;">(ANS)</span></a></li> <li><a href="/wiki/Aktieselskab" title="Aktieselskab"><i>Aktieselskab</i> <span style="font-size:85%;">(A/S)</span></a></li> <li><a href="/wiki/Aksjeselskap" title="Aksjeselskap"><i>Aksjeselskap</i> <span style="font-size:85%;">(AS)</span></a></li> <li><a href="/wiki/Gesellschaft_mit_beschr%C3%A4nkter_Haftung" class="mw-redirect" title="Gesellschaft mit beschränkter Haftung"><i>Gesellschaft mit beschränkter Haftung</i> <span style="font-size:85%;">(GmbH)</span></a></li> <li><a href="/wiki/Kabushiki_gaisha" title="Kabushiki gaisha"><i>Kabushiki gaisha</i> <span style="font-size:85%;">(K.K.)</span></a></li> <li><a href="/wiki/Naamloze_vennootschap" title="Naamloze vennootschap"><i>Naamloze vennootschap</i> <span style="font-size:85%;">(N.V.)</span></a></li> <li><a href="/wiki/Osakeyhti%C3%B6" title="Osakeyhtiö"><i>Osakeyhtiö</i> <span style="font-size:85%;">(Oy)</span></a></li> <li><a href="/wiki/S.A._(corporation)" title="S.A. (corporation)">S.A.</a></li> <li><a href="/wiki/Soci%C3%A9t%C3%A9_%C3%A0_responsabilit%C3%A9_limit%C3%A9e" title="Société à responsabilité limitée"><i>Société à responsabilité limitée</i> <span style="font-size:85%;">(SARL)</span></a></li> <li><a href="/wiki/Types_of_business_entity" class="mw-redirect" title="Types of business entity">more...</a></li></ul></td> </tr></tbody></table></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align:center; background:lavender; line-height:130%; padding:0.3em 0em;;color: var(--color-base)">Doctrines</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Business_judgment_rule" title="Business judgment rule">Business judgment rule</a></li> <li><a href="/wiki/Corporate_governance" title="Corporate governance">Corporate governance</a></li> <li><a href="/wiki/De_facto_corporation_and_corporation_by_estoppel" title="De facto corporation and corporation by estoppel"><i>De facto</i> and estoppel corporations</a></li> <li><a href="/wiki/Internal_affairs_doctrine" title="Internal affairs doctrine">Internal affairs doctrine</a></li> <li><a href="/wiki/Limited_liability" title="Limited liability">Limited liability</a></li> <li><a href="/wiki/Tag-along_right" title="Tag-along right">Tag-along right</a></li> <li><a href="/wiki/Drag-along_right" title="Drag-along right">Drag-along right</a></li> <li><a href="/wiki/Piercing_the_corporate_veil" title="Piercing the corporate veil">Piercing the corporate veil</a></li> <li><a href="/wiki/Rochdale_Principles" title="Rochdale Principles">Rochdale Principles</a></li> <li><i><a href="/wiki/Ultra_vires" title="Ultra vires">Ultra vires</a></i></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align:center; background:lavender; line-height:130%; padding:0.3em 0em;;color: var(--color-base)">Related areas</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Beneficial_ownership" title="Beneficial ownership">Beneficial ownership</a></li> <li><a href="/wiki/Civil_procedure" title="Civil procedure">Civil procedure</a></li> <li><a href="/wiki/Contract" title="Contract">Contract</a></li> <li><a href="/wiki/List_of_company_registers" class="mw-redirect" title="List of company registers">Corporate registers</a></li> <li><a href="/wiki/Registered_agent" title="Registered agent">Registered agent</a></li></ul></div></div></td> </tr><tr><td class="sidebar-below"> <ul><li><a href="/wiki/Portal:Companies" title="Portal:Companies">Company portal</a></li> <li><a href="/wiki/Portal:Law" title="Portal:Law">Law portal</a></li></ul></td></tr><tr><td class="sidebar-navbar"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1239400231">.mw-parser-output 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href="/wiki/Business_administration" title="Business administration">Business administration</a></th></tr><tr><td class="sidebar-above"> Management of a business</td></tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align: center;;color: var(--color-base)"><a href="/wiki/Accounting" title="Accounting">Accounting</a></div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Management_accounting" title="Management accounting">Management accounting</a></li> <li><a href="/wiki/Financial_accounting" title="Financial accounting">Financial accounting</a></li> <li><a href="/wiki/Audit" title="Audit">Audit</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align: center;;color: var(--color-base)"><a href="/wiki/Legal_person" title="Legal person">Business entity</a> (<a href="/wiki/List_of_legal_entity_types_by_country" title="List of legal entity types by country">list</a>)</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Corporate_group" title="Corporate group">Corporate group</a></li> <li><a href="/wiki/Corporation_sole" title="Corporation sole">Corporation sole</a></li> <li><a href="/wiki/Company" title="Company">Company</a></li> <li><a href="/wiki/Conglomerate_(company)" title="Conglomerate (company)">Conglomerate</a></li> <li><a href="/wiki/Holding_company" title="Holding company">Holding company</a></li> <li><a href="/wiki/Cooperative" title="Cooperative">Cooperative</a></li> <li><a href="/wiki/Corporation" title="Corporation">Corporation</a></li> <li><a href="/wiki/Joint-stock_company" title="Joint-stock company">Joint-stock company</a></li> <li><a href="/wiki/Limited_liability_company" title="Limited liability company">Limited liability company</a></li> <li><a class="mw-selflink selflink">Partnership</a></li> <li><a href="/wiki/Privately_held_company" title="Privately held company">Privately held company</a></li> <li><a href="/wiki/Sole_proprietorship" title="Sole proprietorship">Sole proprietorship</a></li> <li><a href="/wiki/State-owned_enterprise" title="State-owned enterprise">State-owned enterprise</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align: center;;color: var(--color-base)"><a href="/wiki/Corporate_governance" title="Corporate governance">Corporate governance</a></div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Annual_general_meeting" title="Annual general meeting">Annual general meeting</a></li> <li><a href="/wiki/Board_of_directors" title="Board of directors">Board of directors</a></li> <li><a href="/wiki/Supervisory_board" title="Supervisory board">Supervisory board</a></li> <li><a href="/wiki/Advisory_board" title="Advisory board">Advisory board</a></li> <li><a href="/wiki/Audit_committee" title="Audit committee">Audit committee</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align: center;;color: var(--color-base)"><a href="/wiki/Corporate_law" title="Corporate law">Corporate law</a></div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Commercial_law" title="Commercial law">Commercial law</a></li> <li><a href="/wiki/Constitutional_documents" title="Constitutional documents">Constitutional documents</a></li> <li><a href="/wiki/Contract" title="Contract">Contract</a></li> <li><a href="/wiki/Corporate_crime" title="Corporate crime">Corporate crime</a></li> <li><a href="/wiki/Corporate_liability" title="Corporate liability">Corporate liability</a></li> <li><a href="/wiki/Insolvency_law" class="mw-redirect" title="Insolvency law">Insolvency law</a></li> <li><a href="/wiki/International_trade_law" title="International trade law">International trade law</a></li> <li><a href="/wiki/Mergers_and_acquisitions" title="Mergers and acquisitions">Mergers and acquisitions</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align: center;;color: var(--color-base)"><a href="/wiki/Corporate_title" title="Corporate title">Corporate title</a></div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Chairman" class="mw-redirect" title="Chairman">Chairman</a></li> <li><a href="/wiki/Chief_business_officer" title="Chief business officer">Chief business officer</a>/<a href="/wiki/Chief_brand_officer" class="mw-redirect" title="Chief brand officer">Chief brand officer</a></li> <li><a href="/wiki/Chief_executive_officer" title="Chief executive officer">Chief executive officer</a>/<a href="/wiki/Chief_operating_officer" title="Chief operating officer">Chief operating officer</a></li> <li><a href="/wiki/Chief_financial_officer" title="Chief financial officer">Chief financial officer</a></li> <li><a href="/wiki/Chief_human_resources_officer" title="Chief human resources officer">Chief human resources officer</a></li> <li><a href="/wiki/Chief_information_officer" title="Chief information officer">Chief information officer</a>/<a href="/wiki/Chief_marketing_officer" title="Chief marketing officer">Chief marketing officer</a></li> <li><a href="/wiki/Chief_product_officer" title="Chief product officer">Chief product officer</a>/<a href="/wiki/Chief_technology_officer" title="Chief technology officer">Chief technology officer</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align: center;;color: var(--color-base)"><a href="/wiki/Economics" title="Economics">Economics</a></div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Commodity" title="Commodity">Commodity</a></li> <li><a href="/wiki/Public_economics" title="Public economics">Public economics</a></li> <li><a href="/wiki/Labour_economics" title="Labour economics">Labour economics</a></li> <li><a href="/wiki/Development_economics" title="Development economics">Development economics</a></li> <li><a href="/wiki/International_economics" title="International economics">International economics</a></li> <li><a href="/wiki/Mixed_economy" title="Mixed economy">Mixed economy</a></li> <li><a href="/wiki/Planned_economy" title="Planned economy">Planned economy</a></li> <li><a href="/wiki/Econometrics" title="Econometrics">Econometrics</a></li> <li><a href="/wiki/Environmental_economics" title="Environmental economics">Environmental economics</a></li> <li><a href="/wiki/Open_economy" title="Open economy">Open economy</a></li> <li><a href="/wiki/Market_economy" title="Market economy">Market economy</a></li> <li><a href="/wiki/Knowledge_economy" title="Knowledge economy">Knowledge economy</a></li> <li><a href="/wiki/Microeconomics" title="Microeconomics">Microeconomics</a></li> <li><a href="/wiki/Macroeconomics" title="Macroeconomics">Macroeconomics</a></li> <li><a href="/wiki/Economic_development" title="Economic development">Economic development</a></li> <li><a href="/wiki/Economic_statistics" title="Economic statistics">Economic statistics</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align: center;;color: var(--color-base)">Finance</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Financial_statement" title="Financial statement">Financial statement</a></li> <li><a href="/wiki/Insurance" title="Insurance">Insurance</a></li> <li><a href="/wiki/Factoring_(finance)" title="Factoring (finance)">Factoring</a></li> <li><a href="/wiki/Cash_conversion_cycle" title="Cash conversion cycle">Cash conversion cycle</a></li> <li><a href="/wiki/Insider_dealing" class="mw-redirect" title="Insider dealing">Insider dealing</a></li> <li><a href="/wiki/Capital_budgeting" title="Capital budgeting">Capital budgeting</a></li> <li><a href="/wiki/Commercial_bank" title="Commercial bank">Commercial bank</a></li> <li><a href="/wiki/Derivative_(finance)" title="Derivative (finance)">Derivative</a></li> <li><a href="/wiki/Financial_statement_analysis" title="Financial statement analysis">Financial statement analysis</a></li> <li><a href="/wiki/Financial_risk" title="Financial risk">Financial risk</a></li> <li><a href="/wiki/Public_finance" title="Public finance">Public finance</a></li> <li><a href="/wiki/Corporate_finance" title="Corporate finance">Corporate finance</a></li> <li><a href="/wiki/Managerial_finance" title="Managerial finance">Managerial finance</a></li> <li><a href="/wiki/International_finance" title="International finance">International finance</a></li> <li><a href="/wiki/Liquidation" title="Liquidation">Liquidation</a></li> <li><a href="/wiki/Stock_market" title="Stock market">Stock market</a></li> <li><a href="/wiki/Financial_market" title="Financial market">Financial market</a></li> <li><a href="/wiki/Tax" title="Tax">Tax</a></li> <li><a href="/wiki/Financial_institution" title="Financial institution">Financial institution</a></li> <li><a href="/wiki/Capital_management" title="Capital management">Capital management</a></li> <li><a href="/wiki/Venture_capital" title="Venture capital">Venture capital</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align: center;;color: var(--color-base)">Types of management</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Asset_management" title="Asset management">Asset</a></li> <li><a href="/wiki/Brand_management" title="Brand management">Brand</a></li> <li><a href="/wiki/Business_intelligence" title="Business intelligence">Business intelligence</a></li> <li><a href="/wiki/Business_development" title="Business development">Business development</a></li> <li><a href="/wiki/Capacity_management" title="Capacity management">Capacity</a></li> <li><a href="/wiki/Capability_management_in_business" title="Capability management in business">Capability</a></li> <li><a href="/wiki/Change_management" title="Change management">Change</a> <ul><li><a href="/wiki/Innovation_management" title="Innovation management">innovation</a></li></ul></li> <li><a href="/wiki/Commercial_management" title="Commercial management">Commercial</a> <ul><li><a href="/wiki/Marketing_management" title="Marketing management">Marketing</a></li></ul></li> <li><a href="/wiki/Communications_management" title="Communications management">Communications</a></li> <li><a href="/wiki/Configuration_management" title="Configuration management">Configuration</a></li> <li><a href="/wiki/Conflict_management" title="Conflict management">Conflict</a></li> <li><a href="/wiki/Content_management" title="Content management">Content</a></li> <li><a href="/wiki/Customer_relationship_management" title="Customer relationship management">Customer relationship</a></li> <li><a href="/wiki/Distributed_management" title="Distributed management">Distributed</a></li> <li><a href="/wiki/Earned_value_management" title="Earned value management">Earned value</a></li> <li><a href="/wiki/Electronic_business" title="Electronic business">Electronic business</a></li> <li><a href="/wiki/Enterprise_resource_planning" title="Enterprise resource planning">Enterprise resource planning</a>  <ul><li><a href="/wiki/Management_information_system" title="Management information system">management information system</a></li></ul></li> <li><a href="/wiki/Financial_management" title="Financial management">Financial</a></li> <li><a href="/wiki/Human_resource_management" title="Human resource management">Human resource</a>  <ul><li><a href="/wiki/Human_resources" title="Human resources">development</a></li></ul></li> <li><a href="/wiki/Incident_management" title="Incident management">Incident</a></li> <li><a href="/wiki/Knowledge_management" title="Knowledge management">Knowledge</a></li> <li><a href="/wiki/Enterprise_legal_management" title="Enterprise legal management">Legal</a></li> <li><a href="/wiki/Materials_management" title="Materials management">Materials</a></li> <li><a href="/wiki/Network_management" title="Network management">Network</a> <ul><li><a href="/wiki/Network_administrator" title="Network administrator">administrator</a></li></ul></li> <li><a href="/wiki/Office_management" title="Office management">Office</a></li> <li><a href="/wiki/Operations_management" title="Operations management">Operations</a>  <ul><li><a href="/wiki/Operations_management_for_services" title="Operations management for services">services</a></li></ul></li> <li><a href="/wiki/Performance_management" class="mw-redirect" title="Performance management">Performance</a></li> <li><a href="/wiki/Power_management" title="Power management">Power</a></li> <li><a href="/wiki/Business_process_management" title="Business process management">Process</a></li> <li><a href="/wiki/Product_life-cycle_management" class="mw-redirect" title="Product life-cycle management">Product life-cycle</a></li> <li><a href="/wiki/Product_management" title="Product management">Product</a></li> <li><a href="/wiki/Project_management" title="Project management">Project</a></li> <li><a href="/wiki/Property_management" title="Property management">Property</a></li> <li><a href="/wiki/Quality_management" title="Quality management">Quality</a></li> <li><a href="/wiki/Records_management" title="Records management">Records</a></li> <li><a href="/wiki/Resource_management" title="Resource management">Resource</a></li> <li><a href="/wiki/Risk_management" title="Risk management">Risk</a>  <ul><li><a href="/wiki/Crisis_management" title="Crisis management">crisis</a></li></ul></li> <li><a href="/wiki/Sales_management" title="Sales management">Sales</a></li> <li><a href="/wiki/Security_management" title="Security management">Security</a></li> <li><a href="/wiki/Service_management" title="Service management">Service</a></li> <li><a href="/wiki/Strategic_management" title="Strategic management">Strategic</a></li> <li><a href="/wiki/Supply_chain_management" title="Supply chain management">Supply chain</a></li> <li><a href="/wiki/Systems_management" title="Systems management">Systems</a> <ul><li><a href="/wiki/System_administrator" title="System administrator">administrator</a></li></ul></li> <li><a href="/wiki/Talent_management" title="Talent management">Talent</a></li> <li><a href="/wiki/Technology_management" title="Technology management">Technology</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align: center;;color: var(--color-base)">Organization</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Organizational_architecture" title="Organizational architecture">Architecture</a></li> <li><a href="/wiki/Organizational_behavior" title="Organizational behavior">Behavior</a></li> <li><a href="/wiki/Organizational_communication" title="Organizational communication">Communication</a></li> <li><a href="/wiki/Organizational_culture" title="Organizational culture">Culture</a></li> <li><a href="/wiki/Organizational_conflict" title="Organizational conflict">Conflict</a></li> <li><a href="/wiki/Organization_development" title="Organization development">Development</a></li> <li><a href="/wiki/Organizational_engineering" title="Organizational engineering">Engineering</a></li> <li><a href="/wiki/Hierarchical_organization" title="Hierarchical organization">Hierarchy</a></li> <li><a href="/wiki/Organizational_patterns" title="Organizational patterns">Patterns</a></li> <li><a href="/wiki/Organizational_space" title="Organizational space">Space</a></li> <li><a href="/wiki/Organizational_structure" title="Organizational structure">Structure</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align: center;;color: var(--color-base)"><a href="/wiki/Trade" title="Trade">Trade</a></div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Business_analysis" title="Business analysis">Business analysis</a></li> <li><a href="/wiki/Business_ethics" title="Business ethics">Business ethics</a></li> <li><a href="/wiki/Business_plan" title="Business plan">Business plan</a></li> <li><a href="/wiki/Business_judgment_rule" title="Business judgment rule">Business judgment rule</a></li> <li><a href="/wiki/Consumer_behaviour" title="Consumer behaviour">Consumer behaviour</a></li> <li><a href="/wiki/Business_operations" title="Business operations">Business operations</a></li> <li><a href="/wiki/International_business" title="International business">International business</a></li> <li><a href="/wiki/Business_model" title="Business model">Business model</a></li> <li><a href="/wiki/International_trade" title="International trade">International trade</a> <ul><li><a href="/wiki/Trade_route" title="Trade route">Trade route</a></li></ul></li> <li><a href="/wiki/Business_process" title="Business process">Business process</a></li> <li><a href="/wiki/Business_statistics" class="mw-redirect" title="Business statistics">Business statistics</a></li></ul></div></div></td> </tr><tr><td class="sidebar-below"> <ul><li><span class="nowrap"><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Emblem-money.svg" class="mw-file-description"><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/16px-Emblem-money.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/24px-Emblem-money.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/32px-Emblem-money.svg.png 2x" data-file-width="48" data-file-height="48" /></a></span> </span><a href="/wiki/Portal:Business_and_economics" class="mw-redirect" title="Portal:Business and economics">Business and economics portal</a></li></ul></td></tr><tr><td class="sidebar-navbar"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Business_administration" title="Template:Business administration"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Business_administration" title="Template talk:Business administration"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Business_administration" title="Special:EditPage/Template:Business administration"><abbr title="Edit this template">e</abbr></a></li></ul></div></td></tr></tbody></table> <p>A <b>partnership</b> is an agreement where parties agree to cooperate to advance their mutual interests. The partners in a partnership may be individuals, <a href="/wiki/Business_entity" class="mw-redirect" title="Business entity">businesses</a>, <a href="/wiki/Interest" title="Interest">interest</a>-based <a href="/wiki/Organization" title="Organization">organizations</a>, <a href="/wiki/School" title="School">schools</a>, <a href="/wiki/Government" title="Government">governments</a> 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. </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="History">History</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Partnership&action=edit&section=1" title="Edit section: History"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p><a href="/wiki/Commenda" title="Commenda">Partnerships</a> 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 <a href="/wiki/Francesco_Datini" title="Francesco Datini">Francesco di Marco Datini</a>, 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.<sup id="cite_ref-:0_1-0" class="reference"><a href="#cite_note-:0-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> </p><p>In Europe, the partnerships contributed to the <a href="/wiki/Commercial_Revolution" class="mw-redirect" title="Commercial Revolution">Commercial Revolution</a> which started in the 13th century. In the 15th century the cities of the <a href="/wiki/Hanseatic_League" title="Hanseatic League">Hanseatic League</a> would mutually strengthen each other; a ship from Hamburg to Gdansk would not only carry its own cargo but was also commissioned to transport freight for other members of the league. This practice not only saved time and money, but also constituted a first step toward partnership. This capacity to join forces in reciprocal services became a distinctive feature, and a long lasting success factor, of the Hanseatic team spirit.<sup id="cite_ref-2" class="reference"><a href="#cite_note-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> </p><p>A close examination of medieval trade in Europe shows that numerous significant credit based trades were not bearing interest. Hence, pragmatism and common sense called for a fair compensation for the risk of lending money, and a compensation for the opportunity cost of lending money without using it for other fruitful purposes. To circumvent the usury laws edicted by the Church, other forms of reward were created, in particular through the widespread form of partnership called <i><a href="/wiki/Commenda" title="Commenda">commenda</a></i>, very popular with Italian merchant bankers.<sup id="cite_ref-3" class="reference"><a href="#cite_note-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> Florentine <a href="/wiki/Merchant_bank" title="Merchant bank">merchant banks</a> were almost sure to make a positive return on their loans, but this would be before taking into account solvency risks. </p><p>In the Middle East, the <i><a href="/wiki/Qirad" title="Qirad">qirad</a></i> and <i>mudarabas</i> institutions developed when trade with the Levant, namely the Ottoman Empire and the Muslim Near East, flourished and when early <a href="/wiki/Trading_company" title="Trading company">trading companies</a>, <a href="/wiki/Contract" title="Contract">contracts</a>, <a href="/wiki/Bills_of_exchange" class="mw-redirect" title="Bills of exchange">bills of exchange</a> and long-distance <a href="/wiki/International_trade" title="International trade">international trade</a> were established.<sup id="cite_ref-Banaji_4-0" class="reference"><a href="#cite_note-Banaji-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> After the fall of the Roman Empire, the Levant trade revived from the 10th to 11th century in Byzantine Italy. The eastern and western Mediterranean formed part of a single commercial civilization in the Middle Ages, and the two regions were economically interdependent through trade (in varying degrees).<sup id="cite_ref-5" class="reference"><a href="#cite_note-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup> </p><p>The Mongols adopted and developed the concepts of liability in relation to investments and loans in Mongol–<i>ortoq</i> partnerships, promoting trade and investment to facilitate the commercial integration of the Mongol Empire. The contractual features of a Mongol-<i>ortoq</i> partnership closely resembled that of <i>qirad</i> and <i>commenda</i> arrangements; however, Mongol investors used metal coins, paper money, gold and silver ingots and tradable goods for partnership investments and primarily financed money-lending and trade activities.<sup id="cite_ref-6" class="reference"><a href="#cite_note-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> Moreover, Mongol elites formed trade partnerships with merchants from Central and Western Asia and Europe, including <a href="/wiki/Marco_Polo" title="Marco Polo">Marco Polo</a>'s family.<sup id="cite_ref-7" class="reference"><a href="#cite_note-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Partnership_agreements">Partnership agreements</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Partnership&action=edit&section=2" title="Edit section: Partnership agreements"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>To come into being, every partnership necessarily involves a partnership agreement, even if it has not been reduced to writing. In common law jurisdictions, a written partnership agreement is not legally required, but partners may benefit from a partnership agreement that articulates the important terms of their relationship.<sup id="cite_ref-8" class="reference"><a href="#cite_note-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> </p><p>In business, two or more companies join forces in a joint venture,<sup id="cite_ref-9" class="reference"><a href="#cite_note-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> a buyer–supplier relationship, a <a href="/wiki/Strategic_alliance" title="Strategic alliance">strategic alliance</a> or a consortium to i) work on a project (e.g. industrial or research project) which would be too heavy or too risky for a single entity, ii) join forces to have a stronger position on the market, iii) comply with specific regulation (e.g. in some emerging countries, foreigners can only invest in the form of partnerships with local entrepreneurs).<br /><sup id="cite_ref-10" class="reference"><a href="#cite_note-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> In this case, the alliance may be structured in a process comparable to a <a href="/wiki/Mergers_%26_Acquisitions" title="Mergers & Acquisitions">Mergers & Acquisitions</a> transaction. A large literature in business and management has paid attention to forming and managing partnership agreements.<sup id="cite_ref-11" class="reference"><a href="#cite_note-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> It has, in particular, shown the role of contracts and relational mechanisms to organize business partnerships.<sup id="cite_ref-12" class="reference"><a href="#cite_note-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> </p><p>Partnerships present the involved parties with complex negotiations and special challenges that must be navigated to agreement. Overarching goals, levels of give-and-take, areas of responsibility, lines of authority and <a href="/wiki/Succession_planning" title="Succession planning">succession</a>, how success is evaluated and distributed, and often a variety of other factors must all be negotiated. Once an agreement is reached, the partnership is typically enforceable by <a href="/wiki/Civil_law_(common_law)" title="Civil law (common law)">civil law</a>, especially if well documented. Partners who wish to make their agreement affirmatively explicit and enforceable typically draw up <a href="/wiki/Articles_of_partnership" title="Articles of partnership">articles of partnership</a>. Trust and pragmatism are also essential as it cannot be expected that everything can be written in the initial partnership agreement, therefore quality governance<sup id="cite_ref-13" class="reference"><a href="#cite_note-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> and clear communication are critical success factors in the long run. It is common for information about formally partnered entities to be made public, such as through a press release, a newspaper ad, or public records laws. </p> <div class="mw-heading mw-heading2"><h2 id="Partner_compensation">Partner compensation</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Partnership&action=edit&section=3" title="Edit section: Partner compensation"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Partner compensation will often be defined by the terms of a partnership agreement. Partners who work for the partnership may receive compensation for their labor before any division of profits between partners.<sup id="cite_ref-14" class="reference"><a href="#cite_note-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Equity_vs._salaried_partners">Equity vs. salaried partners</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Partnership&action=edit&section=4" title="Edit section: Equity vs. salaried partners"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In certain partnerships of individuals, particularly <a href="/wiki/Law_firm" title="Law firm">law firms</a> and <a href="/wiki/Accountancy" class="mw-redirect" title="Accountancy">accountancy</a> firms, <b>equity partners</b> are distinguished from <b>salaried partners</b> (or <b>contract or income partners</b>). The degree of control which each type of partner exerts over the partnership depends on the relevant <a href="/wiki/Partnership_agreement" class="mw-redirect" title="Partnership agreement">partnership agreement</a>.<sup id="cite_ref-15" class="reference"><a href="#cite_note-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> </p> <ul><li>An equity partner is a part-owner of the <a href="/wiki/Business" title="Business">business</a>, and is entitled to a proportion of the distributable <a href="/wiki/Profit_(accounting)" title="Profit (accounting)">profits</a> of the partnership.</li> <li>A salaried partner who is paid a <a href="/wiki/Salary" title="Salary">salary</a> but does not have any underlying ownership interest in the business and will not share in the <a href="/wiki/Dividend" title="Dividend">distributions</a> of the partnership (although it is quite common for salaried partners to receive a bonus based on the firm's profitability).</li></ul> <p>Although individuals in both categories are described as partners, equity partners and salaried partners have little in common other than <a href="/wiki/Joint_and_several_liability" title="Joint and several liability">joint and several liability</a>. In many legal systems, salaried partners are not technically "partners" at all in the eyes of the law. However, if their firm holds them out as partners, they are nonetheless subject to joint and several liabilities. </p><p>In their most basic form, equity partners enjoy a fixed share of the partnership (usually, but not always an equal share with the other partners) and, upon distribution of profits, receive a portion of the partnership's profits proportionate to that share. In more sophisticated partnerships, different models exist for determining either ownership interest, profit distribution, or both. Two common alternate approaches to distribution of profit are "<a href="/wiki/Lockstep_compensation" title="Lockstep compensation">lockstep</a>" and "<a href="/wiki/Merit_pay" title="Merit pay">source of origination</a>" <a href="/wiki/Remuneration" title="Remuneration">compensation</a> (sometimes referred to, more graphically, as "eat what you kill").<sup id="cite_ref-clark_16-0" class="reference"><a href="#cite_note-clark-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup> </p> <ul><li>Lockstep involves new partners joining the partnership with a certain number of "points". As time passes, they accrue additional points, until they reach a set maximum sometimes referred to as a plateau. The length of time it takes to reach the maximum is often used to describe the firm (so, for example, one could say that one firm has a "seven-year lockstep" and another has a "ten-year lockstep" depending on the length of time it takes to reach maximum equity).</li> <li>Source of origination involves the compensation of profits according to a formula that takes into consideration the amount of revenue and profit generated by each partner, such that partners who generate more revenue receive a greater share of the partnership's distributed profit.</li></ul> <div class="mw-heading mw-heading3"><h3 id="Law_firms">Law firms</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Partnership&action=edit&section=5" title="Edit section: Law firms"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The source of origination compensation is rarely seen outside of law firms. The principle is simply that each partner receives a share of the partnership profits up to a certain amount, with any additional profits being distributed to the partner who was responsible for the "origination" of the work that generated the profits.<sup id="cite_ref-clark_16-1" class="reference"><a href="#cite_note-clark-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup> </p><p>British law firms tend to use the lockstep principle, whereas American firms are more accustomed to source of origination. When British firm <a href="/wiki/Clifford_Chance" title="Clifford Chance">Clifford Chance</a> merged with American firm <a href="/wiki/Rogers_%26_Wells" title="Rogers & Wells">Rogers & Wells</a>, many of the difficulties associated with that <a href="/wiki/Merger" class="mw-redirect" title="Merger">merger</a> were blamed on the difficulties of merging a lockstep culture with a source of origination culture.<sup id="cite_ref-17" class="reference"><a href="#cite_note-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Taxation">Taxation</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Partnership&action=edit&section=6" title="Edit section: Taxation"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Partnerships recognized by a government body may enjoy special benefits from <a href="/wiki/Tax_policy" title="Tax policy">taxation policy</a>. Among developed countries, for example, business partnerships are often favored over <a href="/wiki/Corporation" title="Corporation">corporations</a> in taxation policy, since <a href="/wiki/Dividend_tax" title="Dividend tax">dividend taxes</a> only occur on profit before they are distributed to the partners. However, depending on the partnership structure and the <a href="/wiki/Jurisdiction" title="Jurisdiction">jurisdiction</a> in which it operates, owners of a partnership may be exposed to greater <a href="/wiki/Personal_liability" class="mw-redirect" title="Personal liability">personal liability</a> than they would as <a href="/wiki/Shareholder" title="Shareholder">shareholders</a> of a corporation. In such countries, partnerships are often regulated via <a href="/wiki/Antitrust" class="mw-redirect" title="Antitrust">antitrust</a> laws, so as to inhibit <a href="/wiki/Monopoly" title="Monopoly">monopolistic practices</a> and foster <a href="/wiki/Market_economy" title="Market economy">free market competition</a>. Enforcement of the laws, however, varies considerably. Domestic partnerships recognized by governments typically enjoy tax benefits, as well. </p> <div class="mw-heading mw-heading2"><h2 id="Common_law">Common law</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Partnership&action=edit&section=7" title="Edit section: Common law"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>At <a href="/wiki/Common_law" title="Common law">common law</a>, members of a business partnership are personally liable for the debts and obligations of the partnership. Forms of partnership have evolved that may limit a partner's liability.<sup id="cite_ref-henderson_18-0" class="reference"><a href="#cite_note-henderson-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Forms_of_partnership">Forms of partnership</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Partnership&action=edit&section=8" title="Edit section: Forms of partnership"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The general partnership, in which all partners manage the business and are personally liable for its debts, developed under <a href="/wiki/Common_law" title="Common law">common law</a>. General partners have an obligation of <a href="/wiki/Strict_liability" title="Strict liability">strict liability</a> to third parties injured by the Partnership. General partners may have <a href="/wiki/Joint_liability" class="mw-redirect" title="Joint liability">joint liability</a> or <a href="/wiki/Joint_and_several_liability" title="Joint and several liability">joint and several liability</a> depending upon circumstances. </p><p>The <a href="/wiki/Limited_partnership" title="Limited partnership">limited partnership</a> (LP) is a partnership in which general partners manage the partnership's operations, and limited partners forego the right to manage the business in exchange for <a href="/wiki/Limited_liability" title="Limited liability">limited liability</a> for the partnership debts. The liability of limited partners is limited to their investment in the partnership. This form of partnership was developed in the 19th century, the U.K. where it was imparted by charter,<sup id="cite_ref-vernon_19-0" class="reference"><a href="#cite_note-vernon-19"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup> and in the U.S. where it was created by statute.<sup id="cite_ref-henderson_18-1" class="reference"><a href="#cite_note-henderson-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-vernon_19-1" class="reference"><a href="#cite_note-vernon-19"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup> </p><p>More recently, additional forms of partnership have been recognized: </p> <ul><li><a href="/wiki/Limited_liability_partnership" title="Limited liability partnership">limited liability partnership</a> (LLP): a form of partnership in which all partners may have some degree of limited liability.</li> <li><a href="/wiki/Limited_liability_limited_partnership" title="Limited liability limited partnership">limited liability limited partnership</a> (LLLP): a form of limited partnership in which general partners have limited liability for the debts and obligations of the limited partnership.</li></ul> <div class="mw-heading mw-heading3"><h3 id="Silent_partners">Silent partners</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Partnership&action=edit&section=9" title="Edit section: Silent partners"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>A <i><b>silent partner</b></i> or <i><b>sleeping partner</b></i> is one who still shares in the profits and losses of the business, but who is not involved in its management.<sup id="cite_ref-20" class="reference"><a href="#cite_note-20"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup> Sometimes the silent partner's interest in the business will not be publicly known. A silent partner is often an investor in the partnership, who is entitled to a share of the partnership's profits. Silent partners may prefer to invest in limited partnerships in order to insulate their personal assets from the debts or liabilities of the partnership. </p> <div class="mw-heading mw-heading3"><h3 id="Oceania">Oceania</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Partnership&action=edit&section=10" title="Edit section: Oceania"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading4"><h4 id="Australia">Australia</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Partnership&action=edit&section=11" title="Edit section: Australia"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Partnership_(Australia)" title="Partnership (Australia)">Partnership (Australia)</a></div> <p>Summarising s. 5 of the <i>Partnership Act 1958</i> (Vic), for a partnership in Australia to exist, four main criteria must be satisfied. They are: </p> <ul><li>Valid Agreement between the parties;</li> <li>To carry on a business – this is defined in s. 3 as "any trade, occupation or profession";</li> <li>In Common – meaning there must be some mutuality of rights, interests and obligations;</li> <li>View to Profit – thus charitable organizations cannot be partnerships (charities are typically incorporated associations under <i>Associations Incorporations Act 1981</i> (Vic))</li></ul> <p>Partners share profits and losses. A partnership is basically a settlement between two or more groups or firms in which profit and loss are equally divided </p> <div class="mw-heading mw-heading3"><h3 id="South_Asia">South Asia</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Partnership&action=edit&section=12" title="Edit section: South Asia"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading4"><h4 id="Bangladesh">Bangladesh</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Partnership&action=edit&section=13" title="Edit section: Bangladesh"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In Bangladesh, the relevant law for regulating partnership is the Partnership Act 1932.<sup id="cite_ref-21" class="reference"><a href="#cite_note-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup> A partnership is defined as the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all.<sup id="cite_ref-22" class="reference"><a href="#cite_note-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup> The law does not require written partnership agreement between the partners to form a partnership. A partnership is not required to be registered, but a partnership is considered as a separate legal identity from its owners only if the partnership is registered. There must be a minimum of 2 partners and maximum of 20 partners.<sup id="cite_ref-23" class="reference"><a href="#cite_note-23"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading4"><h4 id="India">India</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Partnership&action=edit&section=14" title="Edit section: India"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>According to section 4 of the Partnership Act of 1932,"Partnership is defined as the relation between two or more persons who have agreed to share the profits of a business carried on by all or any one of them acting for all". This definition superseded the previous definition given in section 239 of Indian Contract Act 1872 as – "Partnership is the relation which subsists between persons who have agreed to combine their property, labor, skill in some business, and to share the profits thereof between them". The 1932 definition added the concept of mutual agency. The Indian Partnerships have the following common characteristics: </p><p>1) <b>A partnership firm is not a legal entity</b> apart from the partners constituting it. It has limited identity for the purpose of tax law as per section 4 of the Partnership Act of 1932.<sup id="cite_ref-indiapartact_24-0" class="reference"><a href="#cite_note-indiapartact-24"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup> </p><p>2) <b>Partnership is a concurrent subject</b>. Contracts of partnerships are included in the Entry no.7 of List III of The Constitution of India (the list constitutes the subjects on which both the State government and Central (National) Government can legislate i.e. pass laws on).<sup id="cite_ref-indiapartact_24-1" class="reference"><a href="#cite_note-indiapartact-24"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup> </p><p>3) <b>Unlimited Liability</b>. The major disadvantage of partnership is the unlimited liability of partners for the debts and liabilities of the firm. Any partner can bind the firm and the firm is liable for all liabilities incurred by any firm on behalf of the firm. If property of partnership firm is insufficient to meet liabilities, personal property of any partner can be attached to pay the debts of the firm.<sup id="cite_ref-indiapartact_24-2" class="reference"><a href="#cite_note-indiapartact-24"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup> </p><p>4) <b>Partners are Mutual Agents</b>.The business of firm can be carried on by all or any of them acting for all. Any partner has authority to bind the firm. Act of any one partner is binding on all the partners. Thus, each partner is 'agent' of all the remaining partners. Hence, partners are 'mutual agents'. Section 18 of the Partnership Act, 1932 says "Subject to the provisions of this Act, a partner is the agent of the firm for the purpose of the business of the firm"<sup id="cite_ref-indiapartact_24-3" class="reference"><a href="#cite_note-indiapartact-24"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup> </p><p>5) <b>Oral or Written Agreements</b>. The Partnership Act, 1932 nowhere mentions that the Partnership Agreement is to be in written or oral format. Thus the general rule of the <a href="/wiki/Indian_Contract_Act_1872" class="mw-redirect" title="Indian Contract Act 1872">Contract Act</a> applies that the contract can be 'oral' or 'written' as long as it satisfies the basic conditions of being a contract i.e. the agreement between partners is legally enforceable. A written agreement is advisable to establish existence of partnership and to prove rights and liabilities of each partner, as it is difficult to prove an oral agreement.<sup id="cite_ref-indiapartact_24-4" class="reference"><a href="#cite_note-indiapartact-24"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup> </p><p>6) <b>Number of Partners is minimum 2 and maximum 50 in any kind of business activities</b>. Since partnership is 'agreement' there must be minimum two partners. The Partnership Act does not put any restrictions on maximum number of partners. However, section 464 of Companies Act 2013, and Rule 10 of Companies (Miscellaneous) Rules, 2014 prohibits partnership consisting of more than 50 for any businesses, unless it is <b>registered as a company</b> under <a href="/wiki/Companies_Act_2013" title="Companies Act 2013">Companies Act, 2013</a> or formed in pursuance of some other law. Some other law means companies and corporations formed via some other law passed by <a href="/wiki/Parliament_of_India" title="Parliament of India">Parliament of India</a>. </p><p>7) <b>Mutual agency is the real test</b>. The real test of 'partnership firm' is 'mutual agency' set by the Courts of India, i.e. whether a partner can bind the firm by his act, i.e. whether he can act as agent of all other partners.<sup id="cite_ref-indiapartact_24-5" class="reference"><a href="#cite_note-indiapartact-24"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="North_America">North America</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Partnership&action=edit&section=15" title="Edit section: North America"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading4"><h4 id="Canada">Canada</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Partnership&action=edit&section=16" title="Edit section: Canada"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Statutory regulation of partnerships in Canada fall under <a href="/wiki/Constitution_Act,_1867" title="Constitution Act, 1867">provincial jurisdiction</a>. A partnership is not a separate legal entity and partnership income is taxed at the rate of the partner receiving the income. It can be deemed to exist regardless of the intention of the partners. Common elements considered by courts in determining the existence of a partnership are that two or more legal persons: </p> <ul><li>Are carrying on a business</li> <li>In common</li> <li>With a view to profit.<sup id="cite_ref-25" class="reference"><a href="#cite_note-25"><span class="cite-bracket">[</span>25<span class="cite-bracket">]</span></a></sup></li></ul> <div class="mw-heading mw-heading4"><h4 id="United_States">United States</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Partnership&action=edit&section=17" title="Edit section: United States"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Partnership_taxation_in_the_United_States" title="Partnership taxation in the United States">Partnership taxation in the United States</a></div> <p>Under U.S. law a partnership is a business association of two or more individuals, through which partners share the profits and responsibility for the liabilities of their venture.<sup id="cite_ref-26" class="reference"><a href="#cite_note-26"><span class="cite-bracket">[</span>26<span class="cite-bracket">]</span></a></sup> U.S. states recognize forms of limited partnership that may allow a partner who does not participate in the business venture to avoid liability for the partnership's debts and obligations. Partnerships typically pay less taxes than corporations in fields like fund management.<sup id="cite_ref-27" class="reference"><a href="#cite_note-27"><span class="cite-bracket">[</span>27<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-28" class="reference"><a href="#cite_note-28"><span class="cite-bracket">[</span>28<span class="cite-bracket">]</span></a></sup> </p><p>The federal government of the United States does not have specific statutory law governing the establishment of partnerships. Instead, every U.S. state and the District of Columbia has its own statutes and common law that govern partnerships. The <a href="/wiki/National_Conference_of_Commissioners_on_Uniform_State_Laws" class="mw-redirect" title="National Conference of Commissioners on Uniform State Laws">National Conference of Commissioners on Uniform State Laws</a> has issued non-binding model laws (called uniform act) in which to encourage the adoption of uniformity of partnership law into the states by their respective legislatures. Model laws include the <a href="/wiki/Uniform_Partnership_Act" title="Uniform Partnership Act">Uniform Partnership Act</a> and the <a href="/wiki/Uniform_Limited_Partnership_Act" title="Uniform Limited Partnership Act">Uniform Limited Partnership Act</a>. Most U.S. states have adopted a form of the <a href="/wiki/Uniform_Partnership_Act" title="Uniform Partnership Act">Uniform Partnership Act</a>, which includes provisions regulating <a href="/wiki/General_partnership" title="General partnership">general partnerships</a>, <a href="/wiki/Limited_partnership" title="Limited partnership">limited partnerships</a> and <a href="/wiki/Limited_liability_partnership" title="Limited liability partnership">limited liability partnerships</a>. </p><p>Although the federal government does not have specific statutory law for establishing partnerships, it has an extensive statutory and regulatory scheme for the <a href="/wiki/Partnership_taxation_(USA)" class="mw-redirect" title="Partnership taxation (USA)">taxation of partnerships</a>, set forth in the <a href="/wiki/Internal_Revenue_Code" title="Internal Revenue Code">Internal Revenue Code</a> (IRC) and <a href="/wiki/Code_of_Federal_Regulations" title="Code of Federal Regulations">Code of Federal Regulations</a>.<sup id="cite_ref-29" class="reference"><a href="#cite_note-29"><span class="cite-bracket">[</span>29<span class="cite-bracket">]</span></a></sup> The IRC defines federal tax obligations for partnership operations<sup id="cite_ref-30" class="reference"><a href="#cite_note-30"><span class="cite-bracket">[</span>30<span class="cite-bracket">]</span></a></sup> that effectively serve as federal regulation of some aspects of partnerships. </p> <div class="mw-heading mw-heading3"><h3 id="East_Asia">East Asia</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Partnership&action=edit&section=18" title="Edit section: East Asia"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading4"><h4 id="China">China</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Partnership&action=edit&section=19" title="Edit section: China"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="excerpt-block"><style data-mw-deduplicate="TemplateStyles:r1066933788">.mw-parser-output .excerpt-hat .mw-editsection-like{font-style:normal}</style><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable dablink excerpt-hat selfref">This section is an excerpt from <a href="/wiki/Partnership_(China)" title="Partnership (China)">Partnership (China)</a>.<span class="mw-editsection-like plainlinks"><span class="mw-editsection-bracket">[</span><a class="external text" href="https://en.wikipedia.org/w/index.php?title=Partnership_(China)&action=edit">edit</a><span class="mw-editsection-bracket">]</span></span></div><div class="excerpt"> A <a href="/wiki/Partnership_(China)" title="Partnership (China)">partnership</a> in the <a href="/wiki/China" title="China">People's Republic of China</a> is a <a href="/wiki/Business_entity" class="mw-redirect" title="Business entity">business entity</a> governed by the Partnership Enterprise Law<sup id="cite_ref-31" class="reference"><a href="#cite_note-31"><span class="cite-bracket">[</span>31<span class="cite-bracket">]</span></a></sup> passed by the <a href="/wiki/Standing_Committee_of_the_National_People%27s_Congress" title="Standing Committee of the National People's Congress">Standing Committee of the National People's Congress</a> to authorize and govern partnership enterprises. A partnership is a type of business entity in which partners share with each other the profits or losses of the business undertaking in which all have invested.</div></div> <div class="mw-heading mw-heading4"><h4 id="Hong_Kong">Hong Kong</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Partnership&action=edit&section=20" title="Edit section: Hong Kong"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Partnership_(Hong_Kong)" title="Partnership (Hong Kong)">Partnership (Hong Kong)</a></div> <p>A partnership in Hong Kong is a business entity formed by the Hong Kong Partnerships Ordinance,<sup id="cite_ref-32" class="reference"><a href="#cite_note-32"><span class="cite-bracket">[</span>32<span class="cite-bracket">]</span></a></sup> which defines a partnership as "the relation between persons carrying on a business in common with a view of profit" and is not a joint stock company or an incorporated company.<sup id="cite_ref-33" class="reference"><a href="#cite_note-33"><span class="cite-bracket">[</span>33<span class="cite-bracket">]</span></a></sup> If the business entity registers with the Registrar of Companies it takes the form of a limited partnership defined in the Limited Partnerships Ordinance.<sup id="cite_ref-34" class="reference"><a href="#cite_note-34"><span class="cite-bracket">[</span>34<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-hklii.org_35-0" class="reference"><a href="#cite_note-hklii.org-35"><span class="cite-bracket">[</span>35<span class="cite-bracket">]</span></a></sup> However, if this business entity fails to register with the Registrar of Companies, then it becomes a general partnership as a default.<sup id="cite_ref-hklii.org_35-1" class="reference"><a href="#cite_note-hklii.org-35"><span class="cite-bracket">[</span>35<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Europe">Europe</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Partnership&action=edit&section=21" title="Edit section: Europe"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading4"><h4 id="United_Kingdom_limited_partnership">United Kingdom limited partnership</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Partnership&action=edit&section=22" title="Edit section: United Kingdom limited partnership"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/UK_partnership_law" class="mw-redirect" title="UK partnership law">UK partnership law</a></div> <p>A limited partnership in the United Kingdom consists of: </p> <ul><li>One or more people called general partners, who are liable for all debts and obligations of the firm; and</li> <li>One or of the firm beyond the amount contributed.</li></ul> <p>Limited partners may not: </p> <ul><li>Draw out or receive back any part of their contributions to the partnership during its lifetime; or</li> <li>Take part in the management of the business or have power to bind the firm.</li></ul> <p>If they do, they become liable for all the debts and obligations of the firm up to the amount drawn out or received back or incurred while taking part in the management, as the case may be. </p> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Partnership&action=edit&section=23" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239009302">.mw-parser-output .portalbox{padding:0;margin:0.5em 0;display:table;box-sizing:border-box;max-width:175px;list-style:none}.mw-parser-output .portalborder{border:1px solid var(--border-color-base,#a2a9b1);padding:0.1em;background:var(--background-color-neutral-subtle,#f8f9fa)}.mw-parser-output .portalbox-entry{display:table-row;font-size:85%;line-height:110%;height:1.9em;font-style:italic;font-weight:bold}.mw-parser-output .portalbox-image{display:table-cell;padding:0.2em;vertical-align:middle;text-align:center}.mw-parser-output .portalbox-link{display:table-cell;padding:0.2em 0.2em 0.2em 0.3em;vertical-align:middle}@media(min-width:720px){.mw-parser-output .portalleft{clear:left;float:left;margin:0.5em 1em 0.5em 0}.mw-parser-output .portalright{clear:right;float:right;margin:0.5em 0 0.5em 1em}}</style><ul role="navigation" aria-label="Portals" class="noprint portalbox portalborder portalright"> <li class="portalbox-entry"><span class="portalbox-image"><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Emblem-money.svg" class="mw-file-description"><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/28px-Emblem-money.svg.png" decoding="async" width="28" height="28" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/42px-Emblem-money.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/56px-Emblem-money.svg.png 2x" data-file-width="48" data-file-height="48" /></a></span></span><span class="portalbox-link"><a href="/wiki/Portal:Business_and_economics" class="mw-redirect" title="Portal:Business and economics">Business and economics portal</a></span></li><li class="portalbox-entry"><span class="portalbox-image"><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Balance,_by_David.svg" class="mw-file-description"><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/1/17/Balance%2C_by_David.svg/30px-Balance%2C_by_David.svg.png" decoding="async" width="30" height="28" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/1/17/Balance%2C_by_David.svg/46px-Balance%2C_by_David.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/1/17/Balance%2C_by_David.svg/61px-Balance%2C_by_David.svg.png 2x" data-file-width="606" data-file-height="558" /></a></span></span><span class="portalbox-link"><a href="/wiki/Portal:Law" title="Portal:Law">Law portal</a></span></li></ul> <style data-mw-deduplicate="TemplateStyles:r1184024115">.mw-parser-output .div-col{margin-top:0.3em;column-width:30em}.mw-parser-output .div-col-small{font-size:90%}.mw-parser-output .div-col-rules{column-rule:1px solid #aaa}.mw-parser-output .div-col dl,.mw-parser-output .div-col ol,.mw-parser-output .div-col ul{margin-top:0}.mw-parser-output .div-col li,.mw-parser-output .div-col dd{page-break-inside:avoid;break-inside:avoid-column}</style><div class="div-col" style="column-width: 30em;"> <ul><li><a href="/wiki/Alliance" title="Alliance">Alliance</a></li> <li><a href="/wiki/Consortium" title="Consortium">Consortium</a></li> <li><a href="/wiki/Business_partnering" title="Business partnering">Business partnering</a></li> <li><a href="/wiki/Corporation" title="Corporation">Corporation</a></li> <li><a href="/wiki/General_partnership" title="General partnership">General partnership</a></li> <li><a href="/wiki/Joint_venture" title="Joint venture">Joint venture</a></li> <li><a href="/wiki/Keiretsu" title="Keiretsu">Keiretsu</a></li> <li><a href="/wiki/Limited_liability_partnership" title="Limited liability partnership">Limited liability partnership</a> (LLP)</li> <li><a href="/wiki/Limited_partnership" title="Limited partnership">Limited partnership</a> (LP)</li> <li><a href="/wiki/Partnership_accounting" title="Partnership accounting">Partnership accounting</a></li> <li><a href="/wiki/Partnership_taxation" title="Partnership taxation">Partnership taxation</a></li> <li><a href="/wiki/Strategic_Alliance" class="mw-redirect" title="Strategic Alliance">Strategic Alliance</a></li> <li><a href="/wiki/Types_of_business_entity" class="mw-redirect" title="Types of business entity">Types of business entity</a></li> <li><a href="/wiki/Up_or_out" title="Up or out">Up or out</a> (aka partnership system)</li></ul> </div> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Partnership&action=edit&section=24" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist"> <div class="mw-references-wrap mw-references-columns"><ol class="references"> <li id="cite_note-:0-1"><span class="mw-cite-backlink"><b><a href="#cite_ref-:0_1-0">^</a></b></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite id="CITEREFPadgettMcLean2006" class="citation journal cs1">Padgett, John F.; McLean, Paul D. (2006). "Organizational Invention and Elite Transformation: The Birth of Partnership Systems in Renaissance Florence". <i>American Journal of Sociology</i>. <b>111</b> (5): 1463–1568. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1086%2F498470">10.1086/498470</a>. <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:144729381">144729381</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=American+Journal+of+Sociology&rft.atitle=Organizational+Invention+and+Elite+Transformation%3A+The+Birth+of+Partnership+Systems+in+Renaissance+Florence&rft.volume=111&rft.issue=5&rft.pages=1463-1568&rft.date=2006&rft_id=info%3Adoi%2F10.1086%2F498470&rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A144729381%23id-name%3DS2CID&rft.aulast=Padgett&rft.aufirst=John+F.&rft.au=McLean%2C+Paul+D.&rfr_id=info%3Asid%2Fen.wikipedia.org%3APartnership" class="Z3988"></span></span> </li> <li id="cite_note-2"><span class="mw-cite-backlink"><b><a href="#cite_ref-2">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBeerbühl2012" class="citation web cs1">Beerbühl, Margrit Schulte (13 January 2012). <a rel="nofollow" class="external text" href="http://ieg-ego.eu/en/threads/european-networks/economic-networks/margrit-schulte-beerbuehl-networks-of-the-hanseatic-league">"Networks of the Hanseatic League"</a>. <i>EGO European History Online</i><span class="reference-accessdate">. Retrieved <span class="nowrap">22 September</span> 2017</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=EGO+European+History+Online&rft.atitle=Networks+of+the+Hanseatic+League&rft.date=2012-01-13&rft.aulast=Beerb%C3%BChl&rft.aufirst=Margrit+Schulte&rft_id=http%3A%2F%2Fieg-ego.eu%2Fen%2Fthreads%2Feuropean-networks%2Feconomic-networks%2Fmargrit-schulte-beerbuehl-networks-of-the-hanseatic-league&rfr_id=info%3Asid%2Fen.wikipedia.org%3APartnership" class="Z3988"></span></span> </li> <li id="cite_note-3"><span class="mw-cite-backlink"><b><a href="#cite_ref-3">^</a></b></span> <span class="reference-text">Jean Favier, Gold & Spices: the rise of commerce in the middle ages, Holmes & Meier Pub; 1st US edition, July 1998</span> </li> <li id="cite_note-Banaji-4"><span class="mw-cite-backlink"><b><a href="#cite_ref-Banaji_4-0">^</a></b></span> <span class="reference-text">Jairus Banaji (2007), "Islam, the Mediterranean and the rise of capitalism", <i><a href="/wiki/Historical_Materialism_(journal)" title="Historical Materialism (journal)">Historical Materialism</a></i> <b>15</b> (1): 47–74, <a href="/wiki/Brill_Publishers" title="Brill Publishers">Brill Publishers</a>.</span> </li> <li id="cite_note-5"><span class="mw-cite-backlink"><b><a href="#cite_ref-5">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFLaiou2008" class="citation book cs1"><a href="/wiki/Angeliki_Laiou" title="Angeliki Laiou">Laiou, Angeliki E.</a> (2008). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=Igp8hxsHV_AC"><i>The Economic History of Byzantium: From the Seventh through the Fifteenth Century</i></a>. Dumbarton Oaks. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0884023326" title="Special:BookSources/978-0884023326"><bdi>978-0884023326</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Economic+History+of+Byzantium%3A+From+the+Seventh+through+the+Fifteenth+Century&rft.pub=Dumbarton+Oaks&rft.date=2008&rft.isbn=978-0884023326&rft.aulast=Laiou&rft.aufirst=Angeliki+E.&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DIgp8hxsHV_AC&rfr_id=info%3Asid%2Fen.wikipedia.org%3APartnership" class="Z3988"></span></span> </li> <li id="cite_note-6"><span class="mw-cite-backlink"><b><a href="#cite_ref-6">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFEnkhbold2019" class="citation journal cs1">Enkhbold, Enerelt (2019). "The role of the ortoq in the Mongol Empire in forming business partnerships". <i>Central Asian Survey</i>. <b>38</b> (4): 531–547. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1080%2F02634937.2019.1652799">10.1080/02634937.2019.1652799</a>. <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:203044817">203044817</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Central+Asian+Survey&rft.atitle=The+role+of+the+ortoq+in+the+Mongol+Empire+in+forming+business+partnerships&rft.volume=38&rft.issue=4&rft.pages=531-547&rft.date=2019&rft_id=info%3Adoi%2F10.1080%2F02634937.2019.1652799&rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A203044817%23id-name%3DS2CID&rft.aulast=Enkhbold&rft.aufirst=Enerelt&rfr_id=info%3Asid%2Fen.wikipedia.org%3APartnership" class="Z3988"></span></span> </li> <li id="cite_note-7"><span class="mw-cite-backlink"><b><a href="#cite_ref-7">^</a></b></span> <span class="reference-text">Enkhbold op cit pp. 537</span> </li> <li id="cite_note-8"><span class="mw-cite-backlink"><b><a href="#cite_ref-8">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.cliffsnotes.com/study-guides/accounting/accounting-principles-ii/partnerships/characteristics-of-a-partnership#:~:text=A%20partnership%20agreement%20may%20be,agreement%20should%20be%20in%20writing.">"Characteristics of a Partnership"</a>. <i>www.cliffsnotes.com</i><span class="reference-accessdate">. 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(3 February 2004). <a rel="nofollow" class="external text" href="https://hbr.org/2004/02/launching-a-world-class-joint-venture">"Launching a World-Class Joint Venture"</a>. <i>Harvard Business Review</i>. <b>82</b> (2): 90–100, 124. <a href="/wiki/PMID_(identifier)" class="mw-redirect" title="PMID (identifier)">PMID</a> <a rel="nofollow" class="external text" href="https://pubmed.ncbi.nlm.nih.gov/14971273">14971273</a><span class="reference-accessdate">. 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Retrieved <span class="nowrap">2018-02-19</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Financial+Times&rft.atitle=Private+equity+chiefs+face+conversion+dilemma&rft.date=2018-02-19&rft.aulast=Espinoza&rft.aufirst=Javier&rft.au=Indap%2C+Sujeet&rft_id=https%3A%2F%2Fwww.ft.com%2Fcontent%2F84075784-11a2-11e8-8cb6-b9ccc4c4dbbb&rfr_id=info%3Asid%2Fen.wikipedia.org%3APartnership" class="Z3988"></span></span> </li> <li id="cite_note-28"><span class="mw-cite-backlink"><b><a href="#cite_ref-28">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://www.bloomberg.com/news/articles/2018-02-15/ares-switches-to-corporation-from-partnership-after-tax-overhaul">"Ares Becomes Litmus Test for Buyout Firms Mulling Tax Change"</a>. <i>Bloomberg.com</i>. 2018-02-15<span class="reference-accessdate">. Retrieved <span class="nowrap">2018-02-19</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Bloomberg.com&rft.atitle=Ares+Becomes+Litmus+Test+for+Buyout+Firms+Mulling+Tax+Change&rft.date=2018-02-15&rft_id=https%3A%2F%2Fwww.bloomberg.com%2Fnews%2Farticles%2F2018-02-15%2Fares-switches-to-corporation-from-partnership-after-tax-overhaul&rfr_id=info%3Asid%2Fen.wikipedia.org%3APartnership" class="Z3988"></span></span> </li> <li id="cite_note-29"><span class="mw-cite-backlink"><b><a href="#cite_ref-29">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.irs.gov/businesses/small-businesses-self-employed/partnerships">"Partnerships"</a>. <i>IRS</i>. Internal Revenue Service. 15 December 2017<span class="reference-accessdate">. Retrieved <span class="nowrap">26 January</span> 2018</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=IRS&rft.atitle=Partnerships&rft.date=2017-12-15&rft_id=https%3A%2F%2Fwww.irs.gov%2Fbusinesses%2Fsmall-businesses-self-employed%2Fpartnerships&rfr_id=info%3Asid%2Fen.wikipedia.org%3APartnership" class="Z3988"></span></span> </li> <li id="cite_note-30"><span class="mw-cite-backlink"><b><a href="#cite_ref-30">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.law.cornell.edu/uscode/text/26/subtitle-A/chapter-1/subchapter-K">"26 U.S. Code, Subtite A, Chapter 1, Subchapter K - Partners and Partnerships"</a>. <i>Legal Information Institute</i>. Cornell Law School<span class="reference-accessdate">. Retrieved <span class="nowrap">26 January</span> 2018</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Legal+Information+Institute&rft.atitle=26+U.S.+Code%2C+Subtite+A%2C+Chapter+1%2C+Subchapter+K+-+Partners+and+Partnerships&rft_id=https%3A%2F%2Fwww.law.cornell.edu%2Fuscode%2Ftext%2F26%2Fsubtitle-A%2Fchapter-1%2Fsubchapter-K&rfr_id=info%3Asid%2Fen.wikipedia.org%3APartnership" class="Z3988"></span></span> </li> <li id="cite_note-31"><span class="mw-cite-backlink"><b><a href="#cite_ref-31">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20080910000549/http://www.fdi.gov.cn/pub/FDI_EN/Laws/GeneralLawsandRegulations/BasicLaws/P020061018643910006967.pdf">"Order of the President of the People's Republic of China"</a> <span class="cs1-format">(PDF)</span>. Archived from <a rel="nofollow" class="external text" href="http://www.fdi.gov.cn/pub/FDI_EN/Laws/GeneralLawsandRegulations/BasicLaws/P020061018643910006967.pdf">the original</a> <span class="cs1-format">(PDF)</span> on 10 September 2008.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Order+of+the+President+of+the+People%27s+Republic+of+China&rft_id=http%3A%2F%2Fwww.fdi.gov.cn%2Fpub%2FFDI_EN%2FLaws%2FGeneralLawsandRegulations%2FBasicLaws%2FP020061018643910006967.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3APartnership" class="Z3988"></span></span> </li> <li id="cite_note-32"><span class="mw-cite-backlink"><b><a href="#cite_ref-32">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.hklii.org/hk/legis/en/ord/38/">"Hong Kong Ordinances, CAP 38 Partnership Ordinance"</a>. Hklii.org<span class="reference-accessdate">. Retrieved <span class="nowrap">2012-07-31</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Hong+Kong+Ordinances%2C+CAP+38+Partnership+Ordinance&rft.pub=Hklii.org&rft_id=http%3A%2F%2Fwww.hklii.org%2Fhk%2Flegis%2Fen%2Ford%2F38%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3APartnership" class="Z3988"></span></span> </li> <li id="cite_note-33"><span class="mw-cite-backlink"><b><a href="#cite_ref-33">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.hklii.org/hk/legis/en/ord/38/s3.html">"Hong Kong Partnerships Ordinance, Chapter 38, section 3"</a>. Hklii.org<span class="reference-accessdate">. Retrieved <span class="nowrap">2012-03-31</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Hong+Kong+Partnerships+Ordinance%2C+Chapter+38%2C+section+3&rft.pub=Hklii.org&rft_id=http%3A%2F%2Fwww.hklii.org%2Fhk%2Flegis%2Fen%2Ford%2F38%2Fs3.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3APartnership" class="Z3988"></span></span> </li> <li id="cite_note-34"><span class="mw-cite-backlink"><b><a href="#cite_ref-34">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.hklii.org/hk/legis/en/ord/37/">"CAP 37 Limited Partnerships Ordinance"</a>. Hklii.org<span class="reference-accessdate">. Retrieved <span class="nowrap">2012-07-31</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=CAP+37+Limited+Partnerships+Ordinance&rft.pub=Hklii.org&rft_id=http%3A%2F%2Fwww.hklii.org%2Fhk%2Flegis%2Fen%2Ford%2F37%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3APartnership" class="Z3988"></span></span> </li> <li id="cite_note-hklii.org-35"><span class="mw-cite-backlink">^ <a href="#cite_ref-hklii.org_35-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-hklii.org_35-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.hklii.org/hk/legis/en/ord/37/s4.html">"Hong Kong Limited Partnerships Ordinance, Chapter 37, section 4"</a>. Hklii.org<span class="reference-accessdate">. Retrieved <span class="nowrap">2012-03-31</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Hong+Kong+Limited+Partnerships+Ordinance%2C+Chapter+37%2C+section+4&rft.pub=Hklii.org&rft_id=http%3A%2F%2Fwww.hklii.org%2Fhk%2Flegis%2Fen%2Ford%2F37%2Fs4.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3APartnership" class="Z3988"></span></span> </li> </ol></div></div> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Partnership&action=edit&section=25" title="Edit section: External links"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Commons-logo.svg" class="mw-file-description"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/12px-Commons-logo.svg.png" decoding="async" width="12" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/18px-Commons-logo.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/24px-Commons-logo.svg.png 2x" data-file-width="1024" data-file-height="1376" /></a></span> Media related to <a href="https://commons.wikimedia.org/wiki/Category:Partnerships" class="extiw" title="commons:Category:Partnerships">Partnerships</a> at Wikimedia Commons</li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFChisholm1911" class="citation encyclopaedia cs1"><a href="/wiki/Hugh_Chisholm" title="Hugh Chisholm">Chisholm, Hugh</a>, ed. (1911). <span class="cs1-ws-icon" title="s:1911 Encyclopædia Britannica/Partnership"><a class="external text" href="https://en.wikisource.org/wiki/1911_Encyclop%C3%A6dia_Britannica/Partnership">"Partnership" </a></span>. <i><a href="/wiki/Encyclop%C3%A6dia_Britannica_Eleventh_Edition" title="Encyclopædia Britannica Eleventh Edition">Encyclopædia Britannica</a></i>. Vol. 20 (11th ed.). Cambridge University Press. pp. 872–876.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=Partnership&rft.btitle=Encyclop%C3%A6dia+Britannica&rft.pages=872-876&rft.edition=11th&rft.pub=Cambridge+University+Press&rft.date=1911&rfr_id=info%3Asid%2Fen.wikipedia.org%3APartnership" class="Z3988"></span></li></ul> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1236075235">.mw-parser-output .navbox{box-sizing:border-box;border:1px solid #a2a9b1;width:100%;clear:both;font-size:88%;text-align:center;padding:1px;margin:1em auto 0}.mw-parser-output .navbox .navbox{margin-top:0}.mw-parser-output .navbox+.navbox,.mw-parser-output .navbox+.navbox-styles+.navbox{margin-top:-1px}.mw-parser-output .navbox-inner,.mw-parser-output .navbox-subgroup{width:100%}.mw-parser-output .navbox-group,.mw-parser-output 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