The word "沽名钓誉" is formed by combining two parallel verb-object phrases: "沽名", meaning "to seek fame" (with "沽" as "to court" and "名" as "fame"), and "钓誉", meaning "to fish for praise" (with "钓" as "to angle for" and "誉" as "honor"), resulting in a compound idiom that denotes the deliberate pursuit of reputation and accolades.