Partnership: Establishing a Partnership
Practical Laws of Islam as per the teachings of Ayatullah Sistani
Ruling 2152
If two people form an agreement to trade with property jointly owned by them and to divide the profits between them, and they say a formula (ṣīghah) for establishing a partnership – in Arabic or any other language – or they do something that makes it understood that they want to be each other’s partner (sharīk), their partnership will be valid (ṣaḥīḥ).
-Ayatullah Sistani, Practical Laws of Islam, Buying and Selling