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English definition of “private partnership”

private partnership

noun [C]    
FINANCE a type of company or organization that is owned by a small group of people , without shares traded on a stock market : The big accounting firms are private partnerships , and therefore it's difficult to get specific information beyond what they choose to provide . There are limits to the number of partners who can work in private partnership . We are a private partnership specializing in investment in commercial property .
→ See also public-private partnership
(Definition of private partnership noun from the Cambridge Business English Dictionary © Cambridge University Press)
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