Learn more about the range of agreements generally classified as PPP in pPP agreements and the types of public-private partnership agreements. A public-private partnership, also called PPP, P3 or 3P, is a long-term cooperation agreement between a private company and the national or local government. Some public-private partnerships, when it comes to developing new technologies, include profit-sharing agreements. This usually involves sharing revenues between the inventor and the public as soon as a technology is commercialized. Incentive agreements can be concluded over a specified period of time or on a permanent basis.  A lease is akin to a concession, with the government generally liable for capital expenditures. Firming, in particular, may have special significance in certain legal orders. The World Bank`s explanatory notes on water regulation (Groom et al. 2006, 36-42) describe leases and concessions.
These contracts may or may not be covered by the definition of PPPs, depending on the length of the contract. There are a number of contractual P3 agreements that reflect how risks are shared and the roles between government and private partisan. Construction and transfer projects (BOOs) and other variants can be structured as a concession or availability agreement. Unless otherwise stated in this PPP agreement, this PPP agreement constitutes the entire agreement between the parties with respect to its purpose and replaces all prior assurances, communications, negotiations and agreements regarding the purpose of the PPP agreement. A 2013 study published in the State and Local Government Review found that definitions of public-private partnerships vary widely from community to community: “Many public and private public servants advocate for any number of activities when the relationship is actually contractual, franchised or sending a previous public service to a private or non-profit organization.” A broader term for these agreements is “common service delivery,” in which public bodies work with private companies or non-profit organizations to provide services to citizens.   But it is also true that a multitude of multiple contracts or contracts, more or less formal and sometimes very informal, can lead to a genuine partnership. The most institutionalized forms of partnership can evolve into formalized permanent structures. In practice, PPPs tend to evolve over time, as it is in the nature of a partnership to develop and adapt to the particular circumstances of their activities.
In this regard, political cultures and traditions have a considerable impact. The public-private partnership (PPP) can be defined overall as a contractual agreement between the government and a private company that aims to finance, design, implement and manage infrastructure and services traditionally provided by the public sector. It represents an optimal distribution of risk between the parties – minimizing costs while achieving project objectives.