These complementary skill sets and a shared vision allowed Apple to become one of the most successful companies in the world. The Ben & Jerry‘s story shows that with shared values, a sense of humor, and a whole lot of perseverance, even the most unlikely entrepreneurial duo can build something meaningful and lasting. Cohen and Greenfield‘s partnership is proof that business success and positive social impact can go hand in hand – all while having plenty of fun along the way. Zakin and Weisberg attribute their enduring partnership to a foundation of trust and constant communication. As the face of their company, they believe their personal bond and shared mission are key to theSkimm‘s success. “Our users really responded to the fact that we were two friends and roommates building this as a passion project,” Zakin told CNBC.

Steve Jobs & Steve Wozniak Apple

And when Ben & Jerry‘s was ultimately acquired by Unilever in 2000, Cohen and Greenfield ensured the deal preserved the company‘s social mission. As Page and Brin‘s search engine gained steam, they 10 successful cofounders and why their partnerships worked made the bold decision to put their PhDs on hold and focus on their fledgling company full-time. In a fitting twist for a business that began as a dorm room dream, Google‘s first workspace was humble garage in suburban Menlo Park, sublet from a friend‘s startup.

All of these put together along with 360-degree feedback can skyrocket your business to great heights. Limited partners can become personally liable if they take a more active role in the LP. One party has control over the assets and management responsibilities, but also are personally liable. The other party are generally investors whose personal liability is limited to their investment.

• Let’s look at the 10 most iconic business partnerships and what made them so successful.
• Both audiences need to find value — like chocolate-loving fans of Betty Crocker and Hershey’s.
• They maintained equal control of the company until 2000, when Ben & Jerry‘s was acquired by Unilever.
• “We really respected each other.  When Evan left Google for Odeo.com I was like, ‘What?? You’re Leaving me?’ So I followed him.”

When they first connected through a mutual friend, Wozniak was already well on his way to becoming a brilliant engineer, having built his own computer at home. Jobs, who had recently dropped out of Reed College, was captivated by Wozniak‘s creations and convinced him they could make money selling them. Their first joint business venture was building “blue boxes” – devices that allowed users to make long-distance calls for free by mimicking tones used by the phone company. Even as their company has grown to encompass everything from mapping the globe to building self-driving cars, Page and Brin‘s partnership endures. In 2015, as Google restructured under the umbrella of parent company Alphabet, the co-founders assumed new roles – Page as Alphabet CEO and Brin as President.

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• There have been ultimatums, lawsuits, misrepresentations, threats, theft, and more.
• Once Gates left for Harvard, Allen followed him to the Boston-area and they began plotting business ideas.

Famous Partnership Business Examples

If your partnership is registered as an LP, LLP, or LLLP, you’ll likely need to submit annual reports to keep the secretary of state up to date on basic information about your business. In most states, these are due annually or biennially with a fee based on your entity type. Following the tradition of being founded in a small garage, Hewlett Packard has since expanded and now produces hardware and software for agencies and individuals alike.

Ben Cohen and Jerry Greenfield

The risk of missing a rare opportunity also motivates company leaders to enter into relationships with open-ended possibilities beyond just clear financial payoffs. Those companies offer a rare chance for outsiders to acquire inside positions in country markets. A limited liability company with two or more members is treated as a partnership for income tax purposes.

Empowering Your Employees: The Key to Unlocking Business Success

Whatever you choose, the very existence of an escape route, invoked only with some disadvantages, can be a force for reaching agreement short of that remedy. And the ease of making plans during friendship contrasts sharply with the vindictive impasses that occur when partners fall out. Some states allow different types of partnerships and partners within those partnerships. An LLP is often formed by partners in the same professional category, such as accountants, architects, and lawyers. The partnership protects partners from liability from the actions of other partners.

They respected each other’s diverse perspectives and put the good of the company first, with Randolph eventually stepping aside and Hastings scaling Netflix. Larry Page and Sergey Brin first met during a campus tour of Stanford University for doctoral students and didn’t like each other at first. They were paired together for a PhD project, and their paper, “The Anatomy of a Large-Scale Hypertextual Web Search Engine,” became the basis for Google. In 1837, William Procter, a British candlemaker, and James Gamble, an Irish soapmaker, formed the manufacturing company Procter & Gamble.

#9 Evan Williams and Biz Stone

In the early days, Gates focused on business and Allen concentrated on technology – a common theme we‘ll see among many successful co-founder relationships. But even with a partnership that seemed destined for greatness, the road ahead wasn‘t always smooth. Gates and Allen famously disagreed over whether to develop software for IBM‘s new PC, with Gates pushing for the deal that would make Microsoft a household name while Allen had doubts.

Best Business Partner Duos of All Time

Our best expert advice on how to grow your business — from attracting new customers to keeping existing customers happy and having the capital to do it. The pair was approached by Jack Dorsey, founder and CEO of Square, a mobile payments company, an Odeo engineer with an idea. The pair are adamant about giving back to the community, and this resonates with their customers. Greenfield has said, “We measured our success not just by how much money we made, but by how much we contributed to the community. It was a two-part bottom line.” Tensions came to a head with the launch of the Apple II, the machine that would propel Apple to mainstream success. Jobs insisted on leaving expansion slots off the computer‘s motherboard – a decision Wozniak vehemently opposed.

ExpertBeacon.com is a resource designed to assist consumers in addressing their persistent questions about products, services, and companies. Under Charles’s leadership, the site provides in-depth, well-researched, and accurate information, all structured in easy-to-follow guides and articles. His work here not only highlights his expertise in the field but also his commitment to providing valuable, actionable information to the public. Charles Scott is a dynamic professional whose academic and career achievements demonstrate a strong commitment to excellence in the retail and consumer service industry. Graduating with an MBA from New York University in 2013, Charles has built a diverse and impressive career portfolio. He has held significant roles as a manager, advisor, and marketer, showcasing his multifaceted skills and deep understanding of the industry.

The company is currently a global brand, and the two co-founders are still good friends. They stated that the partnership works well because they have different skill sets but share many values. For example, their focus on social and environmental issues has shaped the culture of Ben & Jerry’s. Wozniak was an engineer passionate about building computers, and Jobs understood product design and business strategy.

Before you start a partnership, you will need to decide what type of partnership you want. The partnership as a business often must register with all states where it does business. Each state may have several different kinds of partnerships that you can form, so it’s important to know the possibilities before you register.