One of the biggest advantages is that partners can pool their financial resources, which helps with larger investments in equipment, technology, and human resources. Partnership brings different individuals together with different skills and knowledge, and each partner also brings their own network of contacts, suppliers, and clients, which improves business reach and opportunities.
Types of partnership
| General Partnership | General Partnership |
| Limited Partnership | Limited Partnership (LP) |
| Limited Liability Partnership (LLP) | |
| Joint Venture | Domestic Joint Venture |
| International Joint Venture | |
| Strategic Alliance | Equity Strategic Alliance |
| Non-equity Strategic Alliance | |
| Silent Partnership | Silent partneship |
| Public Private Partnership | Public-Private Partnership (PPP) |
| Master Limited Partnership | Master Limited Partnership (MLP) |