partnership

American Heritage® Dictionary of the English Language, Fourth Edition

1. n. The state of being a partner.
2. n. 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.
3. n. The persons bound by such a contract.
4. n. 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.

Century Dictionary and Cyclopedia

1. n. The state or condition of being a partner; joint interest; participation with another.
2. n. Specifically In law, the relation subsisting between persons who combine their services, property, and credit for the purpose of conducting business for their joint benefit. It involves usually a reciprocal agency and a community of profits and of losses, and often a community of interest in the capital. Since one in such a relation may make himself liable as a partner to pay debts, and yet fail to secure the right to share assets, the test of what constitutes a partner varies according as merely the relation of the parties to one another is considered, or their relation to third persons dealing with the firm. For the purpose of liability to third persons, a right to share in the profits as profits, as distinguished from receiving a compensation in proportion to profits, has been deemed the general test; but it is subject to exceptions and qualifications, and in England and some other jurisdictions the test is whether the relation was such that the one sought to be held liable had constituted the other his agent to contract such obligation.
3. n. The contract creating the relation of partners.
4. n. A rule in arithmetic. See fellowship

Wiktionary

1. n. The state of being associated with a partner.
2. n. An association of two or more people to conduct a business,
3. n. cricket The period when two specific batsmen are batting, from the fall of one wicket until the fall of the next; the number of runs scored during this period,

GNU Webster's 1913

1. n. The state or condition of being a partner
2. n. A division or sharing among partners; joint possession or interest.
3. n. An alliance or association of persons for the prosecution of an undertaking or a business on joint account; a company; a firm; a house.
4. n. (Law) A contract between two or more competent persons for joining together their money, goods, labor, and skill, or any or all of them, under an understanding that there shall be a communion of profit between them, and for the purpose of carrying on a legal trade, business, or adventure.
5. n. (Arith.) See Fellowship, n., 6.

WordNet 3.0

1. n. a contract between two or more persons who agree to pool talent and money and share profits or losses
2. n. a cooperative relationship between people or groups who agree to share responsibility for achieving some specific goal
3. n. the members of a business venture created by contract