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Webster 1913 Edition

Partnership

Part′ner-ship

,
Noun.
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.
Rowe.
He does possession keep,
And is too wise to hazard
partnership
.
Dryden.
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.
Kent.
Story.
☞ Community of profit is absolutely essential to, though not necessarily the test of, a partnership.
5.
(Arith.)
See
Fellowship
,
Noun.
, 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.
Burrill.
–
Silent partnership
,
the relation of partnership sustained by a person who furnishes capital only.

Webster 1828 Edition

Partnership

P`ARTNERSHIP

,
Noun.
The association of two or more persons for the purpose of undertaking and prosecuting any business, particularly trade or manufactures, at their joint expense. In this case, the connection is formed by contract; each partner furnishing a part of the capital stock and being entitled to a proportional share of profit, or subject to a proportional share of loss; or one or more of the partners may furnish money or stock, and the other or others contribute their services. The duration of the partnership may be limited by the contract, or it may be left indefinite,subject to be dissolved by mutual agreement. A partnership or association of this kind is a standing or permanent company, and is denominated a firm or house. We say, A and B entered into partnership for the importation and sale of goods, or for manufacturing cotton or glass.
Partnerships may be and usually are associations of private persons, not incorporated. In other cases, the company is incorporated. Banking companies in the United States are usually incorporated, and are essentially partnerships,but do not bear that name. Manufacturing companies are also frequently incorporated.
1.
Joint interest or property.

Definition 2024

partnership

partnership

English

Noun

partnership ‎(plural partnerships)

  1. The state of being associated with a partner.
  2. An association of two or more people to conduct a business,
  3. (cricket) The period when two specific batsmen are batting, from the fall of one wicket until the fall of the next; the number of runs scored during this period,

Derived terms

Translations

Etymology

From partner +‎ -ship.

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