partnership

What do Lewis and Clark, Bonnie and Clyde, and Ben and Jerry have in common? They all formed partnerships β€” cooperative relationships where they worked as a team to reach a goal, whether it was robbing banks or inventing Cherry Garcia.

It’s easy to spot partner hidden inside partnership. That should clue you in to the fact the word is all about the deal sealed between two or more people, groups, or even countries that agree to throw their lot in together to achieve something both want. A partnership can be a legal business relationship sealed by a contract or a casual handshake-driven agreement between friends. A marriage is a partnership. So is a corporate merger.

Definitions of partnership
1

n a cooperative relationship between people or groups who agree to share responsibility for achieving some specific goal

“effective language learning is a partnership between school, teacher and student”
“the action teams worked in partnership with the government”
Type of:
human relationship, relationship
a relation between people; (`relationship' is often used where `relation' would serve, as in `the relationship between inflation and unemployment', but the preferred usage of `relationship' is for human relations or states of relatedness)

n a contract between two or more persons who agree to pool talent and money and share profits or losses

Type of:
contract
a binding agreement between two or more persons that is enforceable by law

n the members of a business venture created by contract

Types:
copartnership
a partnership in which employees get a share of the profits in addition to their wages
Type of:
business, business concern, business organisation, business organization, concern
a commercial or industrial enterprise and the people who constitute it

Sign up, it's free!

Whether you're a student, an educator, or a lifelong learner, Vocabulary.com can put you on the path to systematic vocabulary improvement.