Meaning & Definition of word "Partnership"
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Partnership
/ˈpɑːrt.nər.ʃɪp/
noun:
- 1. The state of being partners or in an association for mutual benefit.
- Example: Their partnership allowed them to combine resources and expertise to achieve their goals.
- 2. A legal relationship formed by the agreement between two or more individuals to manage and operate a business together and share its profits and losses.
- Example: The lawyers entered into a partnership to establish a new law firm.
- 3. A relation between individuals or groups that involves mutual cooperation and responsibility.
- Example: The partnership between the community and the school has led to significant improvements in educational outcomes.
- 4. In sport, a collaboration between two players or teams to achieve a winning outcome.
- Example: Their partnership on the court was unmatched, leading to numerous victories.
Etymology
Middle English, from Old French partenariat, from partner.
Common Phrases and Expressions
business partnership:
A formal relationship between two or more people to manage and operate a business.
partnership agreement:
A legal document that outlines the terms and conditions of the partnership.
strategic partnership:
An alliance formed to pursue mutual interests in a strategic manner.
Related Words
partner:
A person who takes part in an undertaking with another, especially in business.
cooperative:
Involving mutual assistance in working toward a common goal.
Slang Meanings of partnership
Meaning: Business buddies
Example Sentence: Those two are business buddies, always working in partnership.
Meaning: Power couple
Example Sentence: They’re a real power couple, their partnership is inspiring.