An in-depth study of medieval trade in Europe shows that many major credit-based transactions did not have interest rates. This is why pragmatism and common sense have demanded fair compensation for credit risk and compensation for the opportunity costs of granting credit, without using it for other fertile purposes. To circumvent the usurious laws promulgated by the Church, other forms of reward were created, notably by the widespread form of the commenda partnership, which was very popular with Italian merchant bankers. [3] Florentine commercial banks were almost certain to get a positive return on their loans, but this would be before taking solvency risks into account. The Mongols adopted and developed the concepts of responsibility for investment and lending in Mongolian Ortoq partnerships to promote trade and investment to facilitate the commercial integration of the Mongol Empire. The contractual characteristics of a Mongolian Ortoq partnership were similar to those of the Qirad and Commenda agreements, but Mongolian investors used metal coins, paper money, gold and silver bacon and tradable goods for partnership investments and financed mainly lending and trading activities. [6] In addition, Mongolian elites have entered into commercial partnerships with traders in Central Asia and Europe, including Marco Polo`s family. [7] If you are dealing with a partner, you enter into a commercial partnership agreement while involving it as a business. Even if it is not necessary today, you may be lucky to have an agreement later.

Trade partnership agreements are necessarily diversified and affect virtually every aspect of a business partnership from start to finish. It is important to include any predictable issues that may arise as part of the co-management of the business. According to Whitworth, these are some of these issues: a limited liability company is a more formal corporate structure combining the limited liability of a company with the tax benefits of a partnership. Launch an LLC with an LLC operating contract. Partnerships recognized by a public body may benefit from special tax advantages. Among developed countries, for example, business partnerships are often preferred over companies in tax matters, as dividend taxes are levied only on profits before being distributed to partners. However, depending on the structure and competence of the company in which it operates, the owners of a company may be subject to greater personal liability than as a shareholder of a company. In these countries, partnerships are often regulated by antitrust laws in order to curb monopolistic practices and encourage competition in the open market. However, the application of the legislation varies considerably.

National partnerships, recognized by governments, generally also enjoy tax advantages. More recently, other forms of partnership have been recognized: the two main structures for buy/sell contracts are cross-purchase agreements in which the remaining shareholders purchase the shares or partnership shares of the outgoing partner and the share withdrawal contract in which the company buys the shares of the outgoing owner. Life insurance is the most typical technique used to ensure that funds are available for cross-purchase transactions. With two partners in the same company, the solution is very simple, but requires more ingenuity to create with several shareholders.