The article discusses how executive compensation in publicly traded corporations can be better understood by viewing them as partnerships between management and stockholders. CEOs receiving a large share of gains is not necessarily a problem, as it aligns their interests with stock price. Stock options as compensation focus CEOs on stock performance and increase their risk-taking. Despite perceptions of excess, executive compensation has been stable over the past two decades. Stock options are self-regulating and less concerning than fixed forms of compensation. The partnership model sheds new light on how stock options should be accounted for.