par·tic·i·pa·tion n
1: the action or state of taking part in something: as
a: association with others in a relationship (as a partnership) or an enterprise usu. on a formal basis with specified rights and obligations
a loan made directly or in participation with a bank
2 a: something in which shares are taken by more than one party
b: something that results in a share (as of a distribution)
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.