Definition, Meaning & Synonyms
partnership
noun
/ˈpɑːrtnərʃɪp/
Definition
A partnership is a formal arrangement between two or more individuals or entities to manage and operate a business and share its profits and losses.
Examples
- John and Sarah decided to enter a partnership to open their own café.
- The partnership between the local school and the community center benefited many students.
- They formed a partnership to develop renewable energy projects.
Meaning
The concept of partnership involves collaboration towards a common goal while sharing responsibilities and benefits.
Synonyms
- collaboration
- alliance
- coalition
- association
- joint venture
