Definition of partnership

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Partnership (n.) 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..

Lern More About Partnership

Partner :: Partner (n.) One who has a part in anything with an other; a partaker; an associate; a sharer. Partner of his fortune. Shak. Hence: (a) A husband or a wife. (b) Either one of a couple who dance together. (c) One who shares as a member of a partnership in the management, or in the gains and losses, of a business..
Enter :: Enter (v. i.) To get admission; to introduce one's self; to penetrate; to form or constitute a part; to become a partaker or participant; to share; to engage; -- usually with into; sometimes with on or upon; as, a ball enters into the body; water enters into a ship; he enters into the plan; to enter into a quarrel; a merchant enters into partnership with some one; to enter upon another's land; the boy enters on his tenth year; to enter upon a task; lead enters into the composition of pewter..
Dissolve :: Dissolve (v. t.) To separate into competent parts; to disorganize; to break up; hence, to bring to an end by separating the parts, sundering a relation, etc.; to terminate; to destroy; to deprive of force; as, to dissolve a partnership; to dissolve Parliament..
Partnership :: Partnership (n.) See Fellowship, n., 6..
Partnership :: Partnership (n.) 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..
Society :: Society (n.) A number of persons associated for any temporary or permanent object; an association for mutual or joint usefulness, pleasure, or profit; a social union; a partnership; as, a missionary society..
Partner :: Partner (n.) An associate in any business or occupation; a member of a partnership. See Partnership.
Cahoot :: Cahoot (n.) Partnership; as, to go in cahoot with a person..
Coparcenary :: Coparcenary (n.) Partnership in inheritance; joint heirship; joint right of succession to an inheritance.
Partnership :: Partnership (n.) A division or sharing among partners; joint possession or interest.
Champerty :: Champerty (n.) Partnership in power; equal share of authority.
Society :: Society (n.) Connection; participation; partnership.
In Commendam :: In commendam () See Commendam, and Partnership in Commendam, under Partnership..
Fellowship :: Fellowship (n.) A state of being together; companionship; partnership; association; hence, confederation; joint interest..
Dissolution :: Dissolution (n.) The dispersion of an assembly by terminating its sessions; the breaking up of a partnership.
Firm :: Firm (a.) The name, title, or style, under which a company transacts business; a partnership of two or more persons; a commercial house; as, the firm of Hope & Co..
Copartnership :: Copartnership (n.) A partnership or firm; as, A. and B. have this day formed a copartnership..
Partnership :: Partnership (n.) 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..
Consortship :: Consortship (n.) The condition of a consort; fellowship; partnership.
Fellowship :: Fellowship (n.) The rule for dividing profit and loss among partners; -- called also partnership, company, and distributive proportion..
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