Participate (4790) (sugkoinoneo from sun = with, reflecting intimate association + koinoneo = to partake, have fellowship - word study on koinonia) means to join in fellowship with someone or participate in something with someone. It means to be associated with someone in some activity and so to be connected with them.
An understanding of the more familiar related noun koinonia which is often translated "fellowship" helps us understand why Paul is commanding his these Gentile believers to stop "fellowshipping" with the unfruitful deeds of darkness. Koinonia describes an association involving close mutual relations and involvement. It can also picture the sharing of one's possessions with the implication of some kind of joint participation and mutual interest. It can describe joint-participation in a common interest and activity (like a partnership). Thus we can understand Paul's charge to not let this be our lifestyle (present tense).
The present imperative with a negative particle commands them to stop an action already in progress or forbidding continuation of joining in fellowship in the unfruitful deeds of darkness.
Sugkoinoneo is found only 3 times in all of Scripture...
Ephesians 5:11 And do not participate in the unfruitful deeds of darkness, but instead even expose them;
Philippians 4:14 Nevertheless, you have done well to share with me in my affliction.
Revelation 18:4 And I heard another voice from heaven, saying, "Come out of her, my people, that you may not participate in her sins and that you may not receive of her plagues
Wayne Barber explains it this way...
Ephesians 5:7-note says, "Therefore be not partakers with them," which is very similar to the word participate in verse 11. But there is a difference. Partakers means simply that you join in with somebody and do what they do. It may be a one-time thing, maybe a two-time thing or whatever. You just happen in a weak moment to come along side of them and you do what they do. But the word (command) "Don’t participate" goes a step further. It means to share in common with. In the first situation you are partaking of the deed. In the other it goes further and you are beginning to absorb within you the very attitudes of the people that are around you. Not only are you partaking in the deeds, but you are sharing things in common with people who wear garments of darkness. We are not to do that but are to wear the garment of light. We have the power in the new garment to refuse the deeds of darkness... We refuse the deeds of darkness when we wear the right garment. We have the power to do that. So we can be in the world, but not of the world. You see, a boat in water is by design. Water in the boat is disaster. We are not to have the water in us, we are to be in the water. We have to reach them for Christ, but not partake with them and not share in common the deeds of darkness. Only in the garment of Christ do we have the power to refuse the deeds of darkness.
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http://www.preceptaustin.org/ephesians_511-12.htm#Participate
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Greek Word Studies ( - )
Read freely Greek Word Studies from the Austin Precept text commentary of the Bible in text and pdf format. Precept Austin is an online free dynamic bible commentary similar to wikipedia with updated content and many links to excellent biblical resources around the world. You can browse the entire collection of Commentaries by Verse on the Precept Austin website.We have been "bought with a price" to be "ambassadors for Christ" and our "salvation is nearer to us than when we believed" so let us "cleanse ourselves from all defilement of flesh and spirit, perfecting holiness in the fear of God" "so that when He appears, we may have confidence and not shrink away from Him in shame at His coming." (1Cor 6:20, 2Cor 5:20, Ro 13:11, 2Cor 7:1, 1Jn 2:28)