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Meaning
A share in an activity, or in its profits.
Origin
'A piece of the action' has an unambiguously American flavour. It brings to mind images of gangster movies with Jimmy Cagney and the like demanding 'hey, gimme a pieca da action'. When the Star Trek franchise opted for a mobster themed episode in 1968 they called it 'A Piece of the Action'. It isn't essentially a US phrase though and tracing its genesis takes us well outside the USA and into a history of finance.
From: http://www.phrases.org.uk
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