Definition of "partnership" []

• The state of being a partner. (noun)
• A legal contract entered into by two or more persons in which each agrees to furnish a part of the capital and labor for a business enterprise, and by which each shares a fixed proportion of profits and losses. (noun)
• The persons bound by such a contract. (noun)
• A relationship between individuals or groups that is characterized by mutual cooperation and responsibility, as for the achievement of a specified goal: Neighborhood groups formed a partnership to fight crime. (noun)

American Heritage(R) Dictionary of the English Language, Fifth Edition. Copyright (c) 2011 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

• "Linklaters is on track with its plans to move to an almost all-equity partnership, with the firm expecting its salaried ranks to account for 10 per cent of the ­partnership at the year-end."
• "This partnership is a 
 key piece of the National Fish Habitat Action Plan."
• "ROBERTS: In this what you call partnership Chimerica Niall between the United States and China, who really has the power here?"