IPA: /ˈpɑːrtnəʃɪp/
KK: /ˈpɑrtənˌʃɪp/
A type of agreement where two or more people or groups work together and share the profits and responsibilities of a business or project.
The two companies formed a partnership to develop new technology.
Partnership is formed from "part" (from Old French *part*, meaning a portion or share) and "-ship" (meaning the state or condition of). The word describes the state of sharing or having a portion together with others.
Think of 'part' as a share or portion, and '-ship' as the state of being. This helps you remember that 'partnership' means the state of sharing a portion with others.