partnership

noun

part·​ner·​ship ˈpärt-nər-ˌship 

 also  ˈpärd-

1

: the state of being a partner : participation

scientists working in partnership with each other

2

a

: a legal relation existing between two or more persons contractually associated as joint principals in a business

began a legal partnership with his uncle

b

: the persons joined together in a partnership

the partnership computes its net income … in a manner similar to that of an individual

—J. K. Lasser

3

: a relationship resembling a legal partnership and usually involving close cooperation between parties having specified and joint rights and responsibilities

The band has maintained a successful partnership for 10 years.

Synonyms

• affiliation
• alliance
• association
• collaboration
• confederation
• connection
• cooperation
• hookup
• liaison
• linkup
• relation
• relationship
• tie-up
• union

Examples of partnership in a Sentence

two people joined in partnership

scientists working in partnership with each other

The company is developing a new car in partnership with leading auto manufacturers in Japan.

Their marriage is a partnership that has remained strong despite family illness.

The singing duo has maintained a successful partnership for 20 years.

a notable partnership between two experienced scientists in the field

He joined the partnership last year.

Recent Examples on the Web

Today’s Paper | Subscribe A Guide to Better Romantic Relationships Looking to build a long-lasting partnership? —Chloé Cooper Jones Emily Woo Zeller Krish Seenivasan Zachary Mouton, New York Times, 19 Apr. 2024

Sony Pictures Entertainment is in talks to join Apollo Global Management in its $26-billion bid for Paramount Global — a partnership that would boost the private equity firm’s efforts to wrangle the prize. —Meg James, Los Angeles Times, 19 Apr. 2024

After a 10-month review, the publisher is expanding its partnership with ICE, a joint venture of GEMA, STIM and PRS for Music that serves as a hub for publishing licensing, collections and payment processing for online uses of compositions in Europe and other markets. —Robert Levine, Billboard, 19 Apr. 2024

The company boasts strategic partnerships with NBCUniversal, Netflix, SiriusXM, Sundance Institute, P&G, Walmart, Chase, Draft Kings and more. —Katcy Stephan, Variety, 18 Apr. 2024

Bird, a five-time Olympic gold medalist and WNBA and NCAA basketball champion, and Rapinoe, a two-time FIFA World Cup-winning soccer superstar, founded the company in partnership with sports media and commerce company TOGETHXR, and with the mission to championing diverse stories. —Variety, NBC News, 18 Apr. 2024

The company is also embracing new delivery methods, launching a pilot drone-delivery system in Christiansburg, Virginia, in partnership with DoorDash and Wing drone deliveries last month. —Chris Morris, Fortune, 18 Apr. 2024

Lowe’s partnership with Inter Miami will include signage and in-stadium activations, community programming, ticket hospitality and player appearances throughout South Florida. —Michelle Kaufman, Miami Herald, 18 Apr. 2024

The needle has been moved in the right direction, pointing toward a greener future, and the company’s partnerships with corporations from various industries, especially in the beauty sector where packaging appearance and functionality are crucial, are a testament to that change. —Chris Gallagher, USA TODAY, 18 Apr. 2024

Word History

First Known Use

1576, in the meaning defined at sense 1

Phrases Containing partnership

• co-partnership
• limited liability partnership
• limited partnership

Kids Definition

partnership

noun

part·​ner·​ship ˈpärt-nər-ˌship 

1

: the state of being a partner

2

: a business organization owned by two or more persons who agree to share the profits and losses

Legal Definition

partnership

noun

part·​ner·​ship

: an association of two or more persons or entities that conduct a business for profit as co-owners see also Uniform Partnership Act compare corporation, joint venture, sole proprietorship

Note: Except in civil law as practiced in Louisiana, where a partnership, like a corporation, is considered a legal person, a partnership is traditionally viewed as an association of individuals rather than as an entity with a separate and independent existence. A partnership cannot exist beyond the lives of the partners. The partners are taxed as individuals and are personally liable for torts and contractual obligations. Each partner is viewed as the other's agent and, traditionally, is jointly and severally liable for the tortious acts of any one of the partners.

— commercial partnership

: trading partnership in this entry

— family limited partnership

: a limited partnership in which the partners are members of a family

— family partnership

: a partnership in which the partners are members of a family

— general partnership

: a partnership in which each partner is liable for all partnership debts and obligations in full regardless of the amount of the individual partner's capital contribution compare limited partnership in this entry

— limited liability partnership

: a partnership formed under applicable state statute in which the partnership is liable as an entity for debts and obligations and the partners are not liable personally

— limited partnership

: a partnership in which the business is managed by one or more general partners and is provided with capital by limited partners who do not participate in management but who share in profits and whose individual liability is limited to the amount of their respective capital contributions compare general partnership in this entry

— master limited partnership

: a limited partnership that offers interests for sale on the market

also : the interests themselves sold as securities

— mining partnership

: a partnership in which two or more persons jointly own a mining claim and actually engage in extracting minerals with the purpose of sharing profits and losses

— nontrading partnership

: a partnership that is not engaged in the buying and selling of goods

called also non-commercial partnership

compare trading partnership in this entry

— partnership at will

: a partnership whose duration is not fixed by contract and that is terminable at will by any partner

— partnership by estoppel

: a partnership created by operation of law when a defendant by words or conduct represents himself or herself to the plaintiff or to the public as a partner and the plaintiff relies on the representation to his or her detriment

— partnership in commendam

in the civil law of Louisiana : limited partnership in this entry

— trading partnership

: a partnership whose business involves the buying and selling of goods

called also commercial partnership

compare nontrading partnership in this entry