Source : Webster's Revised Unabridged Dictionary (1913)

Fellowship \Fel"low*ship\, n. [Fellow + -ship.]
   1. The state or relation of being or associate.

   2. Companionship of persons on equal and friendly terms;
      frequent and familiar intercourse.

            In a great town, friends are scattered, so that
            there is not that fellowship which is in less
            neighborhods.                         --Bacon.

            Men are made for society and mutual fellowship.
                                                  --Calamy.

   3. A state of being together; companionship; partnership;
      association; hence, confederation; joint interest.

            The great contention of the sea and skies Parted our
            fellowship.                           --Shak.

            Fellowship in pain divides not smart. --Milton.

            Fellowship in woe doth woe assuage.   --Shak.

            The goodliest fellowship of famous knights, Whereof
            this world holds record.              --Tennyson.

   4. Those associated with one, as in a family, or a society; a
      company.

            The sorrow of Noah with his fellowship. --Chaucer.

            With that a joyous fellowship issued Of minstrels.
                                                  --Spenser.

   5. (Eng. & Amer. Universities) A foundation for the
      maintenance, on certain conditions, of a scholar called a
      fellow, who usually resides at the university.

Fellowship \Fel"low*ship\, v. t. [imp. & p. p. {Fellowshiped};
   p. pr. & vb. n.. {Fellowshiping}.] (Eccl.)
   To acknowledge as of good standing, or in communion according
   to standards of faith and practice; to admit to Christian
   fellowship.

Source : WordNet®

fellowship
     n 1: an association of people who share common beliefs or
          activities; "the message was addressed not just to
          employees but to every member of the company family";
          "the church welcomed new members into its fellowship"
          [syn: {family}]
     2: the state of being with someone; "he missed their company";
        "he enjoyed the society of his friends" [syn: {company}, {companionship},
         {society}]
     3: money granted (by a university or foundation or other
        agency) for advanced study or research