The rugby football unions of England, France, Ireland, Italy, Scotland and Wales have signed a constitution which will provide the future framework for the championship.
Among the changes will be the setting up of a limited liability company to oversee all commercial activity.
The new constitution replaces both the 1996 Regulations of the Five Nations Committee and the Five Nations Accord of the same year.
It also, for the first time, formally recognises the involvement of Italy in the tournament.
Said chief executive of the Six Nations, John Feehan: "The constitution provides us for the first time with a commercial and organisational structure which is worthy of the greatest annual rugby tournament in the world and which is appropriate to the needs and opportunities of the professional era."
Historically, income has been pooled with 90 percent divided equally between the partners, five percent distributed according to the number of clubs in each union, and five percent each year on the basis of the unions' performance in the championship. Under the terms of the new agreement, 75 percent will be divided equally, with 10 percent divided according to the number of clubs, and 15 percent allocated according to performance.
