Party

Summary

Players can access the Party system with the [Party command, the right "scroll" in a players paperdoll or the help menu
The maximum number of players that can be in one party is 40 players (Previously 20)
While in a party, players can communicate privately with the entire party by using party chat, / by default, and typing in a message
Parties are persistent and will remain in place if the server reboots
Parties will disband if only one player is in it or if no activity occurs among any members of the party for 7 days
Parties are treated as "group" entities for determining looting rights on creatures, using damage thresholds similar to Guilds (i.e. if a Party does 15% of the total damage to a boss, all members of the party gain looting rights to it)

Only the party leader and the party's moderators can add and remove players from a party, unless the party leader has enabled "All May Invite" though removing players is still restricted.

The party leader can designate players to be party "Moderators" by clicking the checkmark next a player's name, these players show up with a small crown icon to other party members.
Party moderators can add and remove other players to the party, though they cannot remove other moderators or the leader.
The moderator that has been in the party the longest is the first to become the leader if the leader leaves the party.

Players can be invited to a party in a few ways:

A number of data values are automatically tracked for members of a party: Damage Dealt, Gold Earned, Healing Done, Damage Taken and Deaths
Parties track Gold Earned by each members of the party and will evenly distribute gold earned among any players with "Share Experience" toggled on.
Gold Earned is determined by (Gold Value of Creature Killed * Percent of Total Damage Dealt to Creature) any time a creature is killed an a party member has dealt damage to it
Healing Done to Party tracks any healing a player performs to another party member or their pets (but not themselves or own pets)
Damage Taken tracks all damage a player takes while in the party
Deaths tracks how many time a player dies while in the party
Players can click the Arrows next to “Stats” to view different stats being tracked for the party
The Party Leader can click the "Reset Values" button to reset all recorded data values to 0
Players can click the Refresh button in the lower right corner to update the party menu (The diamond with an - through it)

Players can toggle Share Experience to “share damage” between other party members
When a creature is killed, all living party members within 50 tiles of the creature who have “Share Experience” toggled will combine their total damage inflicted on it and divide it equally amongst themselves for the purposes of determining Aspect Experience, Mastery Chain Experience, Society Job Progress, Achievements, Boss Results, Shrine Corruption Damage, and so on
Players who are in a Party with Share Experience enabled, but Dead at the time of a creature's death, will receive Experience credit for the kill (must still be within 50 tiles of the creature, however)
If player has Shared Experience toggled, all other players in the Party Menu who also have Share Experience toggled, will appear in Blue text in the menu

If a player has “Flag Green to Party” toggled, they as well as their corpse, will show as Green Notoriety to party members allowing them to attack, loot, or perform hostile actions against you freely
Players may only change their “Flag Green to Party” setting once every 5 minutes