Public-Private Partnership
/ˌpʌblɪk-ˈpraɪvɪt ˈpɑːrtnərʃɪp/
Definitions
- (n.) A contractual arrangement between a government entity and a private sector party to finance, build, and operate projects serving the public interest.
The city entered into a public-private partnership to construct a new transportation system.
- (n.) A collaboration framework where risks, responsibilities, and rewards are shared between public and private participants to deliver public infrastructure or services.
Public-private partnerships are often used to efficiently manage large-scale infrastructure projects.
Forms
- public-private partnerships
Related terms
See also
Commentary
Drafting clear terms on risk allocation and performance metrics is critical in public-private partnerships to avoid disputes.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.