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Definitions by Eric Baker

1st party 

Term used by videogame fans mainly to refer to the manufacturers of a gaming console, such as Microsoft, Sony, and Nintendo, and by association the games they make.
Super Mario Sunshine is a 1st party title from Nintendo.
1st party by Eric Baker March 18, 2004

2nd party 

Term used by videogame fans mainly to refer to the developers owned by a 1st party, such as Silicon Knights or Bungie, and by association the games they make.
Bungie is a 2nd party to Microsoft.
2nd party by Eric Baker March 18, 2004
Term used by videogame fans mainly to refer to the developers who are not owned by a 1st party and usually operate autonomously, such as Capcom or Electronic Arts, and by association the games they make.
3rd party by Eric Baker March 18, 2004