Brand partnerships are categorized on the basis of their duration and division of shares amongst partners. The four common classes are:
General Partnership: Most basic form of association. Both partners share equal profits and responsibilities of the campaign. Usually legitimized by a legal agreement.
Limited Partnership: Has an uneven distribution of power amongst partners. The general partner takes major responsibility to generate profits and supervise the marketing campaign. Silent partner(s) only provide funds in exchange for a set profit percentage.
Limited Liability Partnership: Both of the partners take equal shares from the profits, however they are not accountable for the losses borne by their counterparts. Each partner bears the liability of their own marketing efforts.
Limited Liability Limited Partnership: A safer version of Limited Partnerships. General partner’s contributions are lemmatized to protect each partner from drastic losses.