Definition of 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.
• n. - A division or sharing among partners; joint possession or interest.
• n. - 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.
• 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.
• n. - See Fellowship, n., 6.