English · Work & Business
partnership
/ˈpɑːrt.nər.ʃɪp/
[/ˈpɑːrt.nər.ʃɪp/]
joint business relationship
Intermediatenoun
Definition
A relationship in which two or more people or organizations work together, often sharing profits and risks.
Example
The two friends formed a partnership and opened a small bakery together downtown.
The two friends formed a partnership and opened a small bakery together downtown.
Etymology
From 'partner' (an alteration of 'parcener', a joint heir) plus the suffix '-ship'.
How & Where It’s Used
Used in business law and for collaborative relationships generally.