# Is Business friendly socialism a political ideology **URL:** \ **Category:** In My Humble Opinion\ **Created:** [May 4, 2017, 12:05am UTC](https://boards.straightdope.com/t/is-business-friendly-socialism-a-political-ideology/785825 "2017-05-04T00:05:18Z")\ **Posts on this page:** 1\ **Page:** 2
**Author:** ![up\_the\_junction](https://avatars.discourse-cdn.com/v4/letter/u/f1d935/32.png) [@up\_the\_junction](https://boards.straightdope.com/u/up_the_junction)\ **Post date:** [May 4, 2017, 10:21pm UTC](https://boards.straightdope.com/t/is-business-friendly-socialism-a-political-ideology/785825/21 "2017-05-04T22:21:18Z")
There are loads of successful businesses owned by the workers; > [@](#): > > In 1950, Spedan Lewis executed a second deed of settlement, which passed ownership of the John Lewis Partnership to trustees to hold for the benefit of those who worked in the business > [@](#): > > The company is owned by a trust[A] on behalf of all its employees — known as Partners – who have a say in the running of the business, and receive a share of annual profits, which is usually a significant addition to their salary. The JLP group is the third largest UK private company by sales in the Sunday Times Top Track 100 for 2016.[4] > **[John Lewis Partnership](https://en.wikipedia.org/wiki/John_Lewis_Partnership)** > > The John Lewis Partnership plc (JLP) is a British company that operates John Lewis & Partners department stores, Waitrose supermarkets, its banking and financial services, and other retail-related activities. The public limited company is owned by a trust on behalf of all its employees – known as partners – and a bonus, akin to a share of the profit, is paid to employees. John Lewis has around 80,800 partners/employees as of 2020. JLP Group was the third-largest UK non-traded company The Part... [Previous page](https://boards.straightdope.com/t/is-business-friendly-socialism-a-political-ideology/785825.md?page=1)