A partnership is among the most common forms of business organization, particularly for small and medium-sized enterprises (SMEs). Two or more people come together to share profits and risks. The resources of the different partners are pooled and contributed to the business concerning skills and capital in order to run the business successfully.
Partnership firms are governed by the Indian Partnership Act, of 1932, which details the framework and regulations pertaining to such businesses in India.
In this blog post, we are going to discuss in full detail the Top 23 Partnership Firm Examples in which you all can get the information about the Partnership Firm which no one else is able to provide and so now start this blog post without any delay.
What is the Partnership Firm?
A partnership firm is also known as a type of business organization in which two or more individuals together manage that business and its profit, loss, and failure are also shared with all the individuals.
In this form, partners typically provide capital, expertise, or labor to the business and share decisions. A partnership firm is managed according to the terms of the partnership agreement, which outlines the roles, rights, and responsibilities of each partner.
This structure provides shared resources and risks and encourages collaboration. Partnership firms are extremely common in industries such as law and accounting; consulting firms are also very common.
Flexible, but partners under this form of organization automatically share personal liability, meaning that all debts or obligations incurred by the firm are the responsibility of the partners.
What are the Top 23 Partnership Firm Examples?
We have written below all the names of the top 23 partnership firm examples in a very brief manner along with which we have also provided good information about all those examples:
- Spotify and Uber
- Airbnb and Flipboard collaboration
- BMW and Louis Vuitton
- GoPro and Red Bull
- Apple and Mastercard
- Bonne Belle and Dr. Pepper
- Nike and Apple
- Casper and West Elm
- Levi’s and Pinterest
- Pottery Barn and Sherwin-Williams
- Airbnb and Designstudio
- BuzzFeed and Best Friends Animal Society
- Alexander Wang and H&M
- Covergirl and Lucasfilm
- UNICEF and Target
- Airbnb and Times Group
- Apple Pay App and Mastercard
- McDonald’s
- Accounting Firms
- Hindustan Petroleum
- Law Firm
- Maruti Suzuki
- Medical Practices
Spotify and Uber
Spotify and Uber combined their services to maximize comfort as users can choose songs during the ride. This was a unique use of ride-hailing and music, able to cater to individual customers’ needs while also enjoying the ride.
Spotify and Uber is the 1st example among the Top 23 partnership firm examples And also a very important one.
Airbnb and Flipboard collaboration
Airbnb partnered with Flipboard, which showcased interesting travel content and delivered it to customers through the platform’s website. Flipboard showed stories about travel that were relevant to Airbnb and inspired people to travel to places listed on the platform.
Airbnb and Flipboard collaboration is the 2nd example among the Top 23 partnership firm examples And also a very important one.
BMW and Louis Vuitton
BMW teamed up with Louis Vuitton, a luxury fashion house, to create specially designed all-in-one travel bags that fit perfectly into the trunk of the BMW i8. This partnership combines the best of luxury travel and high-end fashion to appeal to those who are rich in spirit.
BMW and Louis Vuitton is the 3rd example among the Top 23 partnership firm examples And also a very important one.
GoPro and Red Bull
GoPro and Red Bull—two adventure-driven companies—are working together to create content for extreme sports events. Red Bull was their sponsor, and GoPro shot the dynamic footage, resulting in a win-win situation for both brands in the adventure and sports world.
GoPro and Red Bull is the 4th example among the Top 23 partnership firm examples And also a very important one.
Apple and Mastercard
Apple and Mastercard worked together to launch Apple Pay, which allows millions of customers to make secure mobile payments through Apple Pay. This payment modernizes and expands Apple’s ecosystem.
Apple and Mastercard is the 5th example among the Top 23 partnership firm examples And also a very important one.
Bonne Belle and Dr. Pepper
Bon Belle’s partnership with Dr. Pepper attracted makeup fans and soda enthusiasts alike to the famous Lip Smacker-Dr. Pepper, as it offered both makeup and soda flavors in one.
Bonne Belle and Dr. Pepper is the 6th example among the Top 23 partnership firm examples And also a very important one.
Nike and Apple
Nike teamed up with Apple to create the Nike+ line of Nike shoes, which incorporated iPod technology that could automatically report running metrics. It reached the fitness-conscious and tech-savvy consumer.
Nike and Apple is the 7th example among the Top 23 partnership firm examples And also a very important one.
Casper and West Elm
Casper is a mattress company that partnered with West Elm so that consumers could test Casper mattresses in West Elm stores. This partnership allowed customers to experience the product and therefore they were able to trust the company, which helped to increase sales.
Casper and West Elm is the 8th example among the Top 23 partnership firm examples And also a very important one.
Levi’s and Pinterest
Levi’s used Pinterest to create personal styling boards for users. This partnership allowed Levi’s to connect with customers on a personal level by using Pinterest’s visual platform to showcase styling inspiration.
Levi’s and Pinterest is the 9th example among the Top 23 partnership firm examples And also a very important one.
Pottery Barn and Sherwin-Williams
Pottery Barn teamed up with Sherwin-Williams to develop an exclusive paint color line for their customers. This way, customers could find paint colors that would match their furniture and decor—a process that previously made home decorating even more challenging.
Pottery Barn and Sherwin-Williams is the 10th example among the Top 23 partnership firm examples And also a very important one.
Airbnb and Designstudio
Airbnb collaborated with DesignStudio to redesign its image and bring the “Bélo” symbol into being. This partnership refreshed Airbnb’s brand and reflected its underlying mission of connection and engagement for global travelers.
Airbnb and Designstudio is the 11th example among the Top 23 partnership firm examples And also a very important one.
BuzzFeed and Best Friends Animal Society
BuzzFeed and Best Friends Animal Society partnered on content that encouraged animal adoption. They did this through entertaining stories and videos that spread the message of adopting rescued animals.
BuzzFeed and Best Friends Animal Society is the 12th example among the Top 23 partnership firm examples And also a very important one.
Alexander Wang and H&M
Alexander Wang partnered with H&M to make high fashion available at affordable prices. Here H&M was offering exclusive designs while giving Wang direct access to a much larger market.
Alexander Wang and H&M is the 13th example among the Top 23 partnership firm examples And also a very important one.
Covergirl and Lucasfilm
One of the earliest long-term brand partnerships was with Lucasfilm to advertise the “Star Wars” franchise: CoverGirl developed a line of movie-tie makeup inspired by the series. This creative partnership attracted Star Wars stars and makeup enthusiasts to the company.
Covergirl and Lucasfilm is the 14th example among the Top 23 partnership firm examples And also a very important one.
UNICEF and Target
UNICEF collaborated with Target for Kid Power. It helped kids stay fit and be part of a worldwide effort to promote children’s health. For every activity, Target made a donation to UNICEF on behalf of the child who participated.
UNICEF and Target is the 15th example among the Top 23 partnership firm examples And also a very important one.
Airbnb and Times Group
Airbnb and Times Group was a collaboration that revolved around travel and discovery. The deal set up a platform wherein the media mileage of the Times Group connected Indian consumers to the Airbnb platform, driving higher booking levels.
Airbnb and Times Group is the 16th example among the Top 23 partnership firm examples And also a very important one.
Apple Pay App and Mastercard
Apple Pay has worked closely with Mastercard and leveraged scale to expand its network of contactless payments and make Apple Pay transactions faster and safer for all users. This has led to increased payment rates and a cashless culture.
Apple Pay App and Mastercard is the 17th example among the Top 23 partnership firm examples And also a very important one.
McDonald’s
McDonald’s works with small-scale local suppliers to ensure the quality and freshness of all of its ingredients. This has helped McDonald’s support its local businesses, while also trying to meet customer demand for fresh ingredients.
McDonald’s is the 18th example among the Top 23 partnership firm examples And also a very important one.
Accounting Firms
Most accounting firms form partnerships to provide specialized services in various areas. These partnerships enable firms to share resources, expertise, and client referrals, leading to enhanced service delivery and client satisfaction.
Accounting Firms is the 19th example among the Top 23 partnership firm examples And also a very important one.
Hindustan Petroleum
Hindustan Petroleum enters into dealership agreements with dealers operating in all parts of India for the supply of fuel and energy products. Such partnerships will enable HP to reach out to customers across the country, as well as contribute to the availability of energy in remote areas.
Hindustan Petroleum is the 20th example among the Top 23 partnership firm examples And also a very important one.
Law Firm
Law firms will collaborate to handle high-profile cases that demand multidisciplinary expertise. Through such partnerships, firms can provide an integrated legal service and share knowledge to help clients through a team approach.
Law Firm is the 21st example among the Top 23 partnership firm examples And also a very important one.
Maruti Suzuki
Maruti Suzuki has tied up with the best dealerships in India to attract more customers. This is supporting Maruti to help customers get reliable vehicles and excellent service.
Maruti Suzuki is the 22nd example among the Top 23 partnership firm examples And also a very important one.
Medical Practices
Most medical practices form partnerships to provide integrated healthcare. Improving patient care, providing a variety of services in one place, and increasing treatment options can be done through this integration.
Medical Practices is the 23rd example among the Top 23 partnership firm examples And also a very important one.
What are the Famous Partnership Business Examples?
Examples of famous partnerships include Spotify and Uber, GoPro and Red Bull, Apple and Mastercard, and Nike and Apple. These have helped brands reach new audiences, design new products, and improve the customer experience.
What are the Small Business Partnership Firm Examples?
Examples of small business partnerships include accountancy firms at the local level, law practices, medical practices, boutique consulting agencies, and family-owned stores. Small businesses share their resources, skills, and client networks, which engenders growth and stability.
What are the Advantages of Partnership?
Here are all the Advantages of Partnership:
If you want to know and see about the advantages of partnership then you can get a complete guide to this by just clicking here.
What are the Characteristics of Partnership?
Here are all the Characteristics of Partnership:
- Co-ownership: Each of them holds a share of the business.
- Profit and Loss Sharing: Profits and losses are shared based on their partnership agreement.
- Joint Decision Making: All important decisions related to the firm are taken by mutual discussion among the partners.
- Unlimited Liability: The liability of the partners is unlimited, wherein they are liable for the debts and liabilities of the firm.
- Mutual Trust: Partnership firms are based on mutual trust and cooperation for the smooth functioning of the same.
In Conclusion
A partnership firm is an ideal business form for a person who wishes to combine skills, resources, and knowledge to accomplish common goals. By pooling their assets and liabilities, partners may be able to take on more projects and provide more comprehensive services than they could otherwise.
Even though firms in partnership can collaborate effectively and offer room for flexibility, partners are advised to recognize common liabilities due to the fact that liability for debts incurred by the firm may fall back on the partner individually.
If defined properly through mutual agreements and trust, firms in partnership can become a productive model for many business successes and growth.
FAQs
Q1. What is a real-life example of a partnership?
Infosys is a great example of collaboration formed by N.R. Narayana Murthy and six co-founders and is now one of the largest IT companies in India.
Q2. Who is Apple partnered with in India?
Apple partnered with the Tata Group in India to expand local manufacturing and supply chains.
Q3. Which group owns Nike?
Nike is owned by an independent public company called Nike, Inc., although it was founded by Phil Knight and Bill Bowerman.
Q4. What is a good example of a limited partnership?
A great example of a limited partnership would be a real estate investment firm where the general partners manage the business while the limited partners invest their capital without having a direct involvement in that business.
Q5. What is the best example of a business partnership?
A prime example of a successful business partnership is Google and Samsung creating Android devices.
Q6. What is an example of a successful brand partnership?
A highly successful brand partnership would be between Nike and Apple to develop the Nike+ iPod fitness tracking system.
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