noun
- the state or condition of being a partner; participation; association; joint interest.
- Law.
- the relation subsisting between partners.
- the contract creating this relation.
- an association of persons joined as partners in business.
noun
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- a contractual relationship between two or more persons carrying on a joint business venture with a view to profit, each incurring liability for losses and the right to share in the profits
- the deed creating such a relationship
- the persons associated in such a relationship
- the state or condition of being a partner
n.1570s, from partner (n.) + -ship. In the commercial sense from c.1700. An association of two or more persons to conduct a business. In contrast to a corporation, those who engage in a partnership are liable for debts incurred by the company to the full extent of their private fortunes rather than merely to the extent of their investment.