4.20 Partnership-Existence of Partnership in Issue-Effect is a type of partnership agreement or arrangement between two or more parties in which the parties are legally obligated to work together to achieve a common goal. This type of partnership may involve a business, government, or social organization, and can be used to address a wide variety of issues ranging from environmental protection to economic development. The parties involved in such a partnership typically agree to share resources, collaborate on activities, and take joint responsibility for the results of their collective efforts. There are three main types of 4.20 Partnership-Existence of Partnership in Issue-Effect: formal, informal, and hybrid. Formal partnerships involve a written agreement that outlines the expectations and responsibilities of each partner. Informal partnerships are often based on a verbal agreement that outlines the roles and responsibilities of each partner. Hybrid partnerships combine elements from both formal and informal agreements.