Example
Before a business becomes a global hitter, it can start off as a partnership. Once
they grow their business they can register as a Pty Ltd or public company. This
business started off as a partnership and grew into one of the most well-known
and profitable businesses in the world.
Apple - Steve Wozniack and Steve Jobs
Partners, Steve Wozniack and Steve Jobs, found they had a mutual love for
electronics and become friends. After working together on a project, they
proved their partnership successful, they decided to team up and develop a
personal computer.
In 1975, they set up shop in Jobs’ parents’ garage and began developing the
prototype named Apple 1. In an effort to raise enough money to launch, Jobs
sold his car and Wozniack sold his Hewlett-Packard calculator.
They enlisted the help of a third co-founder Ronald Wayne and began selling
the Apple 1. With their profits they improved and refined their design and
launched Apple 2 in 1977.