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Pronunciation:  'pârtnur`ship

WordNet Dictionary
  1. [n]  a contract between two or more persons who agree to pool talent and money and share profits or losses
  2. [n]  the members of a business venture created by contract

PARTNERSHIP is a 11 letter word that starts with P.


 See Also: business, business concern, business organisation, business organization, concern, contract, copartnership, partner



Webster's 1913 Dictionary
\Part"ner*ship\, 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

         Rome, that ne'er knew three lordly heads before,
         First fell by fatal partnership of power. --Rowe.

         He does possession keep, And is too wise to hazard
         partnership.                          --Dryden.

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. --Kent. Story.

Note: Community of profit is absolutely essential to, though
      not necessary 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. soci['e]t['e] en commandit['e]) of the
   French law, introduced into the code of Louisiana.

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

Thesaurus Terms
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