partnership

American  

[pahrt-ner-ship] / ˈpɑrt nərˌʃɪp /

noun

1. the state or condition of being a partner; participation; association; joint interest.

2. Law.

   1. the relation subsisting between partners.

   2. the contract creating this relation.

   3. an association of persons joined as partners in business.

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partnership British  

/ ˈpɑːtnəʃɪp /

noun

1. 1. a contractual relationship between two or more persons carrying on a joint business venture with a view to profit, each incurring liability for losses and the right to share in the profits

   2. the deed creating such a relationship

   3. the persons associated in such a relationship

2. the state or condition of being a partner

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partnership Cultural  

1. An association of two or more persons to conduct a business. In contrast to a corporation, those who engage in a partnership are liable for debts incurred by the company to the full extent of their private fortunes rather than merely to the extent of their investment.

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Other Word Forms

• prepartnership noun

Etymology

Origin of partnership

First recorded in 1570–80; partner + -ship

Example Sentences

Coral is built on a close partnership between two living organisms.

From Science Daily

"I think we have a really strong basis for working together in partnership," he said at the alliance's Brussels headquarters.

From Barron's

The goal would be to support existing industries and build know-how in areas where Europe isn’t competitive, for instance by motivating more electric-vehicle battery partnerships between European and East Asian companies.

From The Wall Street Journal

That men and women want different things out of partnerships, that they’re either pulling for different traits or look like these totally different entities, I just think the evidence for this is completely wrong.

From Los Angeles Times

In Singapore, the company aims to further expand its network of clinics and hospital facilities, launch a second fertility centre, and strengthen insurance partnerships, the analyst notes.

From The Wall Street Journal

Related Words

• assistance
• association
• business
• company
• cooperation
• cooperative
• corporation
• firm
• friendship
• interest
• organization
• ownership
• sharing
• society
• tie up
• union