The word "Partnership" refers to a formal arrangement in which two or more individuals or entities cooperate and share their skills, resources, and responsibilities toward a common goal, typically in a business context. In a partnership, each party contributes something—be it capital, labor, or expertise—and shares in the profits (or losses) that arise from the endeavor.
The word "partnership" comes from the Middle English term "partenrippe," which itself is derived from the Old French word "parain" or "partenaire," meaning "a partner." The root "part" relates to sharing or dividing, illustrating the concept of shared responsibilities and benefits.