Outsourcing vs. Contract — What's the Difference?

Outsourcing is an agreement in which one company hires another company to be responsible for a planned or existing activity that is or could be done internally and sometimes involves transferring employees and assets from one firm to another. The term outsourcing, which came from the phrase outside resourcing, originated no later than 1981.

A contract is a legally binding document between at least two parties that defines and governs the rights and duties of the parties to an agreement. A contract is legally enforceable because it meets the requirements and approval of the law.

To delegate (a task, function, or responsibility) to an independent provider

An agreement between two or more parties, especially one that is written and enforceable by law.

To relocate or transfer (jobs) to another labor market

The writing or document containing such an agreement.

Inflection of outsource

The branch of law dealing with formal agreements between parties.

The transfer of a business function to an external service provider.

Marriage as a formal agreement; betrothal.

The last and highest bid of a suit in one hand in bridge.

The number of tricks thus bid.

Contract bridge.

A paid assignment to murder someone

To enter into by contract; establish or settle by formal agreement

To acquire or incur

To reduce in size by drawing together; shrink.

To pull together; wrinkle.

(Grammar) To shorten (a word or words) by omitting or combining some of the letters or sounds, as do not to don't.

To enter into or make an agreement

To become reduced in size by or as if by being drawn together

An agreement between two or more parties, to perform a specific job or work order, often temporary or of fixed duration and usually governed by a written agreement.

(legal) An agreement which the law will enforce in some way. A legally binding contract must contain at least one promise, i.e., a commitment or offer, by an offeror to and accepted by an offeree to do something in the future. A contract is thus executory rather than executed.

(legal) The document containing such an agreement.

(legal) A part of legal studies dealing with laws and jurisdiction related to contracts.

(informal) An order, usually given to a hired assassin, to kill someone.

(bridge) The declarer's undertaking to win the number of tricks bid with a stated suit as trump.

(obsolete) Contracted; affianced; betrothed.

(obsolete) Not abstract; concrete.

(ambitransitive) To draw together or nearer; to shorten, narrow, or lessen.

(grammar) To shorten by omitting a letter or letters or by reducing two or more vowels or syllables to one.

(transitive) To enter into a contract with. en

(transitive) To enter into, with mutual obligations; to make a bargain or covenant for.

(intransitive) To make an agreement or contract; to covenant; to agree; to bargain.

(transitive) To bring on; to incur; to acquire.

(transitive) To gain or acquire (an illness).

To draw together so as to wrinkle; to knit.

To betroth; to affiance.

To draw together or nearer; to reduce to a less compass; to shorten, narrow, or lessen; as, to contract one's sphere of action.

To draw together so as to wrinkle; to knit.

To bring on; to incur; to acquire; as, to contract a habit; to contract a debt; to contract a disease.

To enter into, with mutual obligations; to make a bargain or covenant for.

To betroth; to affiance.

To shorten by omitting a letter or letters or by reducing two or more vowels or syllables to one.

To be drawn together so as to be diminished in size or extent; to shrink; to be reduced in compass or in duration; as, iron contracts in cooling; a rope contracts when wet.

To make an agreement; to covenant; to agree; to bargain; as, to contract for carrying the mail.

Contracted; as, a contract verb.

Contracted; affianced; betrothed.

The agreement of two or more persons, upon a sufficient consideration or cause, to do, or to abstain from doing, some act; an agreement in which a party undertakes to do, or not to do, a particular thing; a formal bargain; a compact; an interchange of legal rights.

A formal writing which contains the agreement of parties, with the terms and conditions, and which serves as a proof of the obligation.

The act of formally betrothing a man and woman.

A binding agreement between two or more persons that is enforceable by law

(contract bridge) the highest bid becomes the contract setting the number of tricks that the bidder must make

A variety of bridge in which the bidder receives points toward game only for the number of tricks he bid

Enter into a contractual arrangement

Engage by written agreement;

Squeeze or press together;

Become smaller or draw together;

Be stricken by an illness, fall victim to an illness;

Make smaller;

Compress or concentrate;

Make or become more narrow or restricted;

Reduce in scope while retaining essential elements;