The partnership
Example: Partnership involves shared business ownership between two or more people
Definition
"The partnership" refers to a business arrangement in which two or more individuals share ownership, responsibilities, profits, and losses. It involves collaboration and joint decision-making to operate a business together, typically with mutual agreement on roles and contributions.
Etymology
The term "the partnership" originates from the Old French word 'partenariat,' which stems from 'partenaire,' meaning partner. It entered English in the late Middle Ages, reflecting the concept of sharing parts or shares in business or other ventures. Did you know that partnerships historically were essential for pooling resources and expertise before corporations became widespread?
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"The partnership" appears in the Vocaplus list "English - Entrepreneurship - (A1-C2) - set 1", containing 110 commonly used words.
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