Abandonment
Abandoning, Relinquishing
noun, verbal noun
You release and abandon something. This is abandonment.
放棄 is a relatively formal word for abandoning something. It can refer to giving up responsibilities, like neglecting duties or parental obligations, or relinquishing entitlements and rights.
This is a jukugo word that uses the on'yomi readings of the kanji. You should be able to read this on your own.
私は典型的な育児放棄をされた子どもで、孤児院で育ちました。
I was a typical neglected child who grew up in an orphanage.