private partnershipnoun [ C ]
ukusFINANCE 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