The law writers of ancient India (around 700 B.C.) devised, in a period of flourishing trade, rules for the administration of partnerships, formed as a means of combining capital and skills of individual entrepreneurs. These rules are indicative of the concern of the writers with partnership economics and equity--concepts which form an important part of present day partnership law.
"Vedic partnership rules,"
Accounting Historians Journal: Vol. 10
, Article 9.
Available at: https://egrove.olemiss.edu/aah_journal/vol10/iss2/9