Private sector engagement (PSE) is increasingly acknowledged in both literature and practice as a necessary mechanism to sustainably address development challenges. Despite increased practitioner and academic interest in these partnerships, there have been negligible attempts to systematically investigate cross‐sector partnerships to distill best practices from the multiple environments in which they are employed. This manuscript presents a robust review of the social science and business literatures on cross‐sector partnerships, yielding an interdisciplinary, evidence‐based framework detailing archetypes of three prominent partnership characteristics (...) of purpose, context, and relationship enablers. This work integrates a wide range of best practices and values pertinent to businesses and society, enabling researchers, practitioners, and partnership managers to characterize and evaluate partnerships systematically. The introduced framework also enables partners to situate and evaluate their partnership activities to optimize outcomes for each partner and impact on the challenge at hand. (shrink)