There are several famous examples of business partnerships, including Google, a company founded by Larry Page and Sergey Brin. Page and Brin met at Stanford University while attending graduate school. Although they initially argued a lot, they successfully collaborated on a research paper about a hypertextual web search engine. The concepts from that paper formed the core of the Google search engine.Know More
Twitter users can thank Biz Stone and Evan Williams for creating a company that made microblogging popular. Both men brought a decade of experience in blogging to the partnership. This successful partnership is based on camaraderie and mutual respect.
EBay is a good example of an unlikely business partnership. When Pierre Omidyar first told Jeffrey Skoll about his idea for an auction website, Skoll was not fond of it. However, Skoll changed his mind and became the first eBay employee. Their working relationship evolved into a close business partnership, which led to a lucrative IPO deal within three years.
Some businesses formed by partnerships survive and continue to be prosperous long after the original partners have died. Proctor and Gamble is an iconic company that makes many popular consumer household brands. Founded in 1837, the company was named after William Proctor and James Gamble.Learn more about Business Resources
Companies with LLC in their name are limited liability companies, a legal structure allowing the business owners some protection against liability, while getting the tax benefits of a partnership. Depending the state, an LLC can consist of one or more partners that can be individuals, corporations or other LLCs.Full Answer >
Companies ultimately diversify to improve their sales and reduce business risk. Diversification presents risks and opportunities for companies, but ultimately helps them set and achieve long-term goals and reduce the risk of failure, say authors at Investopedia. Diversification gives companies a financial cushion in the event that one market or product fails to meet anticipated success, and comes in several varieties.Full Answer >
Publicly traded companies are businesses with shares that may be distributed to the general public when purchased on the stock market. The shares are displayed on the market where they can be bought and sold by individual investors, and the companies must provide corporate financial information to their shareholders.Full Answer >
Companies in the United States reach Fortune 500 status after reaching the profit generation threshold, which changes annually. Companies must surpass a certain financial threshold for inclusion in the Fortune 500 listing; this listing bases exclusively on profits and revenue, but companies making the list, and especially repeat organizations, share several common traits, making them more successful than their peers. The 2013 threshold was slightly more than $4.8 billion, according to Fortune.Full Answer >