diff --git a/packages/gitbook/src/lib/REFERENCES.md b/packages/gitbook/src/lib/REFERENCES.md
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+# Content references
+
+Content references are a concept in the GitBook API for linking between spaces, pages, anchors, files, and other entities. A definition of a content reference can be found in the OpenAPI spec under `api.ContentRef`.
+
+Every link in GitBook - even to external URLs - is defined as a content reference.
+
+Content references can be, by design, relative. We call "resolving a content ref" the process of taking a potentially relative ref along with the current context of the user and producing an absolute link:
+
+```typescript
+async function resolveContentRef(contentRef: api.ContentRef, context: GitBookSpaceContext): Promise<ResolvedContentRef>;
+```
+
+Relative content references are resolved against the context:
+
+```typescript
+const ref = { kind: 'page', page: 'my-page-id' }; // a relative ref to a page in the current space
+const resolved = await resolveContentRef(ref, { space: 'my-space-id' });
+// resolved.url = ../../my-page-id
+
+const resolved = await resolveContentRef(ref, { space: 'another-space-id' });
+// resolved == null, because the page does not exist here
+```
+
+## Reusable Content
+
+Reusable content presents an interesting challenge for content references:
+
+- Reusable content belongs to a parent space.
+- All content refs defined in the reusable content will be relative to the parent space. For example, for a content ref inside `my-space`, `{ kind: page, page: 'my-page-id' }` refers to the page `my-page-id` inside `my-space`.
+- When reusable content is used in pages within the parent space, all links remain relative to the space.
+- When reusable content is used across other spaces, we must resolve the refs relative to the containing space (not the parent).
+
+See the [ReusableContent](../components/DocumentView/ReusableContent.tsx) component for how we construct the `GitBookSpaceContext`, and [resolveContentRef](./references.tsx) for the `resolveContentRef` implementation.
+
+
+
diff --git a/packages/gitbook/src/lib/references.test.ts b/packages/gitbook/src/lib/references.test.ts
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+import { describe, expect, it, mock } from 'bun:test';
+import * as api from '@gitbook/api';
+import type { GitBookSpaceContext } from '@v2/lib/context';
+
+import { resolveContentRef } from './references';
+
+const NOW = new Date();
+
+describe('resolveContentRef', () => {
+    it('should resolve a relative page ref', async () => {
+        const currentSpace = createMockSpace({ id: 'current-space' });
+        const currentPages = [createMockPage({ id: 'page-1' })];
+        const context = createMockContext({ space: currentSpace, pages: currentPages });
+
+        const result = await resolveContentRef(
+            {
+                kind: 'page',
+                page: 'page-1',
+            },
+            context
+        );
+
+        expect(result).not.toBeNull();
+        expect(result?.text).toBe('Page 1');
+        expect(result?.href).toBe('/page/page-1');
+    });
+
+    it('should resolve a url', async () => {
+        const currentSpace = createMockSpace({ id: 'current-space' });
+        const currentPages = [createMockPage({ id: 'page-1' })];
+        const context = createMockContext({ space: currentSpace, pages: currentPages });
+
+        const result = await resolveContentRef(
+            {
+                kind: 'url',
+                url: 'https://example.com/some-page',
+            },
+            context
+        );
+
+        expect(result).not.toBeNull();
+        expect(result?.text).toBe('https://example.com/some-page');
+        expect(result?.href).toBe('https://example.com/some-page');
+    });
+});
+
+describe('resolveContentRef with reusable content', () => {
+    it('should resolve a relative page ref with reusable content', async () => {
+        const rcSpace = createMockSpace({ id: 'rc-parent-space' });
+        const context = createMockContext({ space: rcSpace, pages: [] });
+
+        const result = await resolveContentRef(
+            {
+                kind: 'page',
+                page: 'page-1',
+            },
+            context
+        );
+
+        expect(result).not.toBeNull();
+        expect(result?.text).toBe('Current Page');
+        expect(result?.href).toBe('/page/page-1');
+    });
+});
+
+const createMockSpace = (space: MandateProps<Partial<api.Space>, 'id'>): api.Space => ({
+    object: 'space',
+    title: 'My Space',
+    visibility: api.ContentVisibility.Public,
+    urls: {
+        location: `https://api.gitbook.com/s/${space.id}`,
+        published: `https://example.com/space/${space.id}`,
+        app: `https://app.gitbook.com/s/${space.id}`,
+    },
+    organization: 'org-1',
+    revision: 'rev-1',
+    emoji: '',
+    createdAt: NOW.toISOString(),
+    updatedAt: NOW.toISOString(),
+    defaultLevel: 'inherit',
+    comments: 0,
+    changeRequests: 0,
+    changeRequestsOpen: 0,
+    changeRequestsDraft: 0,
+    permissions: {
+        view: true,
+        access: true,
+        admin: true,
+        viewInviteLinks: true,
+        edit: true,
+        triggerGitSync: true,
+        comment: true,
+        merge: true,
+        review: true,
+    },
+    ...space,
+});
+
+const createMockPage = (
+    page: MandateProps<Partial<api.RevisionPageDocument>, 'id'>
+): api.RevisionPageDocument => ({
+    title: 'Page 1',
+    slug: 'page-1',
+    kind: 'sheet',
+    type: 'document',
+    layout: {},
+    urls: {
+        app: `https://app.gitbook.com/s/${page.id}/page-1`,
+    },
+    path: '/page-1',
+    pages: [],
+    document: {
+        object: 'document',
+        data: {},
+        nodes: [],
+    },
+    ...page,
+});
+
+const createMockContext = (
+    context: MandateProps<Partial<GitBookSpaceContext>, 'space' | 'pages'>
+): GitBookSpaceContext => ({
+    organizationId: 'org-1',
+    changeRequest: null,
+    revisionId: 'rev-1',
+    shareKey: undefined,
+    dataFetcher: {
+        getSpace: mock().mockResolvedValue(null),
+        getPublishedContentSite: mock().mockResolvedValue(null),
+    } as any,
+    linker: {
+        toPathForPage: mock(({ page }: { page: api.RevisionPage }) => `/page/${page.id}`),
+        toAbsoluteURL: mock((url: string) => `https://example.com${url}`),
+    } as any,
+    ...context,
+});
+
+/**
+ * Type to make optional properties on a object mandatory.
+ *
+ * interface SomeObject {
+ *   uid: string;
+ *   price: number | null;
+ *   location?: string;
+ * }
+ *
+ * type ValuableObject = MandateProps<SomeObject, 'price' | 'location'>;
+ */
+type MandateProps<T extends {}, K extends keyof T> = T & {
+    [MK in K]-?: NonNullable<T[MK]>;
+};