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partnership
noun
Synonyms
Examples of partnership in a Sentence
Word History
1576, in the meaning defined at sense 1
Phrases Containing partnership
Dictionary Entries Near partnership
Cite this Entry
“Partnership.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/partnership. Accessed 24 Dec. 2024.
Kids Definition
partnership
nounLegal Definition
partnership
nounNote: Except in civil law as practiced in Louisiana, where a partnership, like a corporation, is considered a legal person, a partnership is traditionally viewed as an association of individuals rather than as an entity with a separate and independent existence. A partnership cannot exist beyond the lives of the partners. The partners are taxed as individuals and are personally liable for torts and contractual obligations. Each partner is viewed as the other's agent and, traditionally, is jointly and severally liable for the tortious acts of any one of the partners.
called also non-commercial partnership
compare trading partnership in this entrycalled also commercial partnership
compare nontrading partnership in this entryMore from Merriam-Webster on partnership
Nglish: Translation of partnership for Spanish Speakers
Britannica English: Translation of partnership for Arabic Speakers
Britannica.com: Encyclopedia article about partnership
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