Equippable items found while playing together with other players in an area are able to be gifted to everyone who was present as the item was found with no time limit, and has no costs unlike trading. Gifting can be done from the interact-menu for other players.
When you have received a gift, an icon in the bottom-right corner of the screen indicates it. Gifting Window can be opened by clicking that icon, or by from your Inventory (bound to I by default) and clicking the Gifting -button.
Items can also be gifted with the use of Resonance in situations where a player was not present at the time of the item dropping.