PARTNERSHIP • FREE-TRANSLATOR.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.

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Etymology of 'Partnership'

Collaborative International Dictionary of English 0.48

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"Partnership" Quotes from Famous Books

... girl with the long, golden red hair pointed at his breast pocket. "This Droozle I must see. And who's that other member of the partnership there beside him? ...

— Droozle • Frank Banta

... China Coast, that few women could stand it without more of the comforts and luxury than his small salary could have paid for. So finally, at the end of a year or two, he got himself the home he wanted, in partnership with a little Chinese girl who answered every purpose. He was not in love with her, in any exalted sense, but she supplied certain needs, and at the end of his long days, he had the refuge that he craved. She kept him from going ...

— Civilization - Tales of the Orient • Ellen Newbold La Motte

... a native of Lancashire, where he lived until he was thirteen years of age. Emigrating to Philadelphia in 1747, he was placed in the counting-house of one of the leading merchants, with whose son he entered into partnership before he had completed his twenty-first year. This young firm, Willing, Morris & Co., embarked boldly and ably in commerce, until at the beginning of the Revolution it was the wealthiest commercial firm in the Colonies south of New England, and only surpassed in New England by two. When the contention ...

— Revolutionary Heroes, And Other Historical Papers • James Parton

... annual income of L1000, and an honorable ambition, Scott worked his new literary mine with great vigor. He saw not only fame but wealth within his reach. He entered into a silent partnership with the publisher, James Ballantyne, which was for a long time lucrative, by reason of the unprecedented sums he received for his works. In 1806 he was appointed to the reversion—on the death of the incumbent—of the clerkship of the Court of Sessions, a place worth L1300 ...

— English Literature, Considered as an Interpreter of English History - Designed as a Manual of Instruction • Henry Coppee

... the evening together at Thorpe's. Catherine was disturbed and out of spirits; but Isabella seemed to find a pool of commerce, in the fate of which she shared, by private partnership with Morland, a very good equivalent for the quiet and country air of an inn at Clifton. Her satisfaction, too, in not being at the Lower Rooms was spoken more than once. "How I pity the poor creatures that are going there! How glad I am that ...

— Persuasion • Jane Austen

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