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What does time-sharing mean?

Looking for the meaning or definition of the word time-sharing? Here's what it means.

Noun
  1. The joint ownership or lease of a property by multiple people who can only use it for specified periods every year, or every other year.
  2. (computing) A technique that allows many users to use a central computer simultaneously through remote terminals.
Verb
  1. present participle of time-share
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