Words / T / Business

trusteeship

noun/trʌsˈtiːʃɪp/

C2CEFR level
80/100Rarity: very rare
TechnicalRegister

The position and responsibilities of one who holds and administers property or duties on behalf of others.

The pension fund's trusteeship demanded that its board place beneficiaries' interests above all else.

Similar: custodianship

Topic: Corporate governance in Business English

Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.

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More business words: Corporate governance