[pahrt-ner-ship] /ˈpɑrt nərˌʃɪp/

the state or condition of being a partner; participation; association; joint interest.


the state or condition of being a partner

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.


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