A partnership is formed.
- An example of a partnership is two businesses working together.
- An example of a partnership is a marriage.
- the state of being a partner; participation
- the relationship of partners; joint interest; association
- an association of two or more partners in a business enterprise
- a contract by which such an association is created
- the people so associated
- The state of being a partner.
- a. A business entity in which two or more co-owners contribute resources, share in profits and losses, and are individually liable for the entity's actions.b. The persons participating in such a business entity.
- A relationship between individuals or groups that is characterized by mutual cooperation and responsibility, as for the achievement of a specified goal: Neighborhood groups formed a partnership to fight crime.
From partner +"Ž -ship.
partnership - Investment & Finance Definition
A business that has two or more owners who agree to share profits and are liable for any debts or losses. The partnership agreement outlines how profits and losses are to be allocated. A partnership agreement may terminate upon the death or withdrawal of one member, or may include other arrangements in such situations, including allowing the remaining partner or partners to purchase the withdrawing partner’s share of the business.
partnership - Legal Definition