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    Partnership

    /ˈpɑːrt.nər.ʃɪp/

    Meaning & Definition

    noun
    The state of being partners or in an association for mutual benefit.
    Their partnership allowed them to combine resources and expertise to achieve their goals.
    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.
    The lawyers entered into a partnership to establish a new law firm.
    A relation between individuals or groups that involves mutual cooperation and responsibility.
    The partnership between the community and the school has led to significant improvements in educational outcomes.
    In sport, a collaboration between two players or teams to achieve a winning outcome.
    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

    Business buddies
    Those two are business buddies, always working in partnership.
    Power couple
    They’re a real power couple, their partnership is inspiring.