PARTNERSHIP • DICCIONARIO INGLES.COM • Definition of Partnership

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/pˈɑrtnərʃˌɪp/ Listen

noun

Partnership n.

1.

The state or condition of being a partner; as, to be in partnership with another; to have partnership in the fortunes of a family or a state.

2.

A division or sharing among partners; joint possession or interest. "Rome, that ne'er knew three lordly heads before, First fell by fatal partnership of power." "He does possession keep, And is too wise to hazard partnership."

3.

An alliance or association of persons for the prosecution of an undertaking or a business on joint account; a company; a firm; a house; as, to form a partnership.

4.

(Law) A contract between two or more competent persons for joining together their money, goods, labor, and skill, or any or all of them, under an understanding that there shall be a communion of profit between them, and for the purpose of carrying on a legal trade, business, or adventure. Note: Community of profit is absolutely essential to, though not necessarily the test of, a partnership.

5.

(Arith.) See Fellowship, n., 6.

Limited partnership, a form of partnership in which the firm consists of one or more general partners, jointly and severally responsible as ordinary partners, and one or more special partners, who are not liable for the debts of the partnership beyond the amount of cash they contribute as capital.

Partnership in commendam, the title given to the limited partnership (F. société en commandité) of the French law, introduced into the code of Louisiana.

Silent partnership, the relation of partnership sustained by a person who furnishes capital only.

See images of 'Partnership'

Etymology of 'Partnership'

Collaborative International Dictionary of English 0.48

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"Partnership" Quotes from Famous Books

... in Twenty-Ninth Street. He had been a schoolmate and great crony of my brother Tom. As children they had played together, and throughout life, until my brother's death in 1886, these two formed, as it were, a partnership within a partnership. They invariably held equal interests in the various firms with which they were connected. What one did the ...

— Autobiography of Andrew Carnegie • Andrew Carnegie

... start, productive for the moment of a closer partnership between Jonathan Snitchey and Thomas Craggs than the subsisting articles of agreement in that wise contemplated, he hastily betook himself to where the sisters stood together, and - however, I needn't more particularly explain his manner of saluting ...

— The Battle of Life • Charles Dickens

... truth—he was "no good!" He had come to the point of believing it of himself. He was not a success; he was quite the other thing. But, granting that, he was young and entitled to another chance. He could work into a partnership with Mr. Davis ...

— What's-His-Name • George Barr McCutcheon

... have any," I replied, comprehending that now she claimed partnership in this adventure. "This has all occurred so suddenly, I have only acted upon impulse. No doubt those back at the Landing will endeavor to pursue us; they may have discovered already our means of escape and procured boats. My principal hope is that they may ...

— The Devil's Own - A Romance of the Black Hawk War • Randall Parrish

... made a meagre beginning out of which great things were to grow. They began a series of pictures which was to lead at least one of them to fame. It was in the little Piazza, del Grano studio that the "Baptism of Christ" was painted, a partnership work that had been planned in the ...

— Pictures Every Child Should Know • Dolores Bacon

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