Partners

A partner is a person who shares in an activity or relationship with others, involving mutual rights, duties, and risks. The term is used in business, law, and everyday speech to denote collaboration or an association between individuals or entities. In personal contexts, partners may refer to spouses or romantic companions.

In business, partnerships are arrangements in which two or more people or organizations pool resources to run a venture. Partners share profits and losses, contribute capital or expertise, and may participate in management depending on the agreement. Partnerships rely on mutual trust and fiduciary duties, and disputes can lead to dissolution or renegotiation.

Legal forms include general partnerships, limited partnerships, and limited liability partnerships. In a general partnership, all partners manage the business and share liability. A limited partnership includes general partners with unlimited liability and limited partners whose liability is limited to their investment but who typically do not manage. An LLP offers liability protection to all partners in many jurisdictions.

Beyond business, the term also describes non-economic relationships. Romantic or domestic partners share a life and finances, with varying legal recognition and rights across jurisdictions, such as property claims or parental rights. The legal status and protections for partners vary widely by country and region.

In broader contexts, partnerships are collaborations among organizations, communities, or institutions. Public-private partnerships involve government agencies and private firms delivering services or infrastructure, with shared risks and accountability. Successful partnerships emphasize clear objectives, governance, and transparent communication.