Dictionary.net

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

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

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.

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.

See Fellowship, n., 6.

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.

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.

See Fellowship, n., 6.

When used without a qualifier such as "limited" or "limited liability," usually refers to a legal structure called a general partnership. This is a business owned by two or more people (called partners or general partners) who are personally liable for all business debts. To form a partnership, each partner normally contributes money, valuable property or labor in exchange for a partnership share, which reflects the amount contributed. Partnerships are easy to form since no registration is required with any governmental agency to create a partnership (although tax registration and other requirements to conduct business may still apply). Although not required, it is an excellent idea to prepare a written partnership agreement between the partners to define items such as ownership percentages, how profits and losses will be divided and what happens if a partner dies or becomes disabled. Partnerships themselves do not pay federal or state income taxes; rather, profits are passed through to partners who report and pay income taxes on their personal returns. See also limited partnership; limited liability partnership.

The state of being associated for a common purpose; joint interest or ownership; union of, or relation between, two or more persons in business together.

State of being a partner: a contract between persons engaged in any business.

Association in business.

Association in business.

n. State of being a partner; participation with another;—association of two or more persons for the purpose of undertaking and presenting any business; a firm or house;—joint interest or property in;—a rule in arithmetic.