Meaning

• A company of people that share the same interest or aim.

  "The Fellowship of the Ring"

• Company, companions; a group of people or things following another.

• A feeling of friendship, relatedness or connection between people.

• A merit-based scholarship.

• A temporary position at an academic institution with limited teaching duties and ample time for research; this may also be called a postdoc.

• A period of supervised, sub-specialty medical training in the United States and Canada that a physician may undertake after completing a specialty training program or residency.

• The proportional division of profit and loss among partners.

Meaning

• To admit to fellowship, enter into fellowship with; to make feel welcome by showing friendship or building a cordial relationship. Now only in religious use.

  "The Bishop's family fellowshipped the new converts."

• To join in fellowship; to associate with.

  "After she got married, she stopped fellowshipping with the singles in our church."