The Peril Partnership is an organized villainy labor group. It is similar to The Guild of Calamitous Intent and the Fraternity of Torment, its two primary competitors. According to Guild numbers, the Guild outstrips the Partnership and the Fraternity of Torment put together in members.
Headquartered in Canada,, the Partnership is that country's equivalent to the Guild of Calamitous Intent. Although the Office of Secret Intelligence holds animosity toward them, the Guild and the Partnership have maintained peace for six decades.
In Any Which Way But Zeus, Henchman Zero arranged the kidnapping of many henchpeople, scientists, and other similar characters, some of which were from the Peril Partnership. The Partnership sent Tiger Shark as a representative to the five guild summit, but none of the representatives could find out the location of the kidnapped prisoners. Luckily, the situation resolved itself as Zero's own prisoners took him out.
In The Inamorata Consequence, it is revealed the Peril Partnership has a mole within the Guild of Calamitous Intent, Guild Stranger S-464. Though for what reason it has yet to be shown, it's apparently enough of a concern for Dr. Mrs. The Monarch to suggest The Guild put a tail on S-464.
In The Bellicose Proxy, Dr. Mrs. The Monarch threatens Guild Stranger S-464 with torture if he doesn't agree to be the Guild's mole within the Peril Partnership. After he willingly complies, she agrees to help him repair his relationship with OSI's Agent Kimberly McManus.
In The Terminus Mandate, it is revealed that Wide Wale had been paying kickbacks to the Partnership to stay out of Guild territory. After the kickbacks stop happening, Partnership representative Blind Rage meets with Dr. Mrs. The Monarch and Red Death at Vincenzo's to discuss the situation. The encounter is tense, with Blind Rage referring to the Guild as "has beens", but Dr. Mrs. The Monarch agrees to talk with the Guild about resuming the kickbacks to the Partnership. The Guild Council votes and settles on paying off the Partnership despite Dr. Mrs. The Monarch's objections. Red Death volunteers to deliver the word but instead confronts Blind Rage, incapacitates him, and ties him to railroad tracks in the path of an oncoming train. Red Death makes a villainous speech and tells Blind Rage if he survives to inform the Partnership that the Guild "isn't scared of punks".
In The Forecast Manufacturer, a blizzard overtakes New York after S-464 uses a stolen Guild weather machine as sour grapes to McManus, whom he apparently never made up with. OSI ultimately points The Guild to a villain named The Creep as the party responsible for the mess. A disgraced former agent of the OSI, The Creep had apparently established a "rogue version" of The Peril Partnership, though his relationship with the main Partnership leadership is not mentioned. While the OSI recruit Dr. Venture to deal with the machine above New York City, The Guild sends The Monarch and Henchman 21 to infiltrate The Creep's base in upstate New York as defectors and kill him. With the help of Billy Whalen, Dr. Venture shuts off the machine and takes in a surrendering S-464. The Creep is killed by a falling lawn dart game of Dive Bomb to test the would-be new recruits.
- Fallen Arches (mentioned)
- The Inamorata Consequence (Guild Stranger S-464)
- The Bellicose Proxy (Guild Stranger S-464)
- The Terminus Mandate (Blind Rage)
- The Forecast Manufacturer (Guild Stranger S-464, The Creep)
- All members of the Peril Partnership wear belts with the initials "PP" on them.