An association by an agreement of two or more persons or entities (the "general partners") for a common profit making objective, and by which each of the partners bears full liability to third parties. The assets of the general partners are available to satisfy judgments arising out of the partnership business.

Form of partnership in which all partners are gene... Add a comment

A partnership in which each partner contributes to the business, either in the form of money or services, and also shares in the control and management of the business. Each partner in a general partnership is personally liable for the full amount of partnership indebtedness.

Same as “Partnership,” but designated as “General partnership” to distinguish this kind of entity from a “Limited partnership.”  All partners in a general partnership are general partners and have unlimited liability for the debts and obligations of the general partnership. To learn more about general partnerships, click here.

A partnership made up of general partners, without special (limited) partners. (See also Limited Partnership; Partnership).

partnership in which all participants are general partners.

A partnership in which the parties carry on all their business for the joint benefit and profit of all the parties concerned without attention to the capital being limited or not, or the contributions being equal or unequal. The partners of a general partnership are liable for all debts and obligations of the partnership.

A partnership where all the partners have control and liability for the acts of that partnership. General Partnerships have not been considered securities, so many issuers use general partnerships in the belief that a general partnership is not a ‘security’, and therefore exempt from the reporting and disclosure and sales regulations governing securities. The test of a general partnership is if all the general partners are knowledgeable in that particular business and truly participate in the management of the business of the company the partnership is formed to manage.

a business co-owned by to or more general partners who are liable for everything the business does

a business enterprise entered into by two or more persons who do not form a corporation or any other type of business entity to operate the business

a business entity in which two or more co-owners engage in business for profit

a business entity that is made up of two or more entities to carry on a trade or business

a business in which two or more owners agree to share profits and losses

a business owned and operated by two or more individuals or entities under a partnership name that must be registered with the Secretary of State

a business owned by two or more people who have not filed the paperwork to form a corporation or a limited liability company

a business owned directly by two or more people

a business that has not incorporated which is owned by two or more persons

a business with two or more owners who share in the operation of a firm and in financial responsibility for its debts

a commercial undertaking in which two or more partners operate under a common business name and are solitarily liable for the obligations of the partnership with all of their assets

a distinct entity, separate from its partners

a form of business organization where two co-owners carry on the business for a profit

a form of business organized by two or more individuals who do not want to set up a Corporation or other type of company

a legal business relationship in which two or more persons agree to share ownership and management of a business

a legal entity established by two or more general partners on the basis of a partnership agreement

a legal entity for limited purposes only

a multiple-owner business that, like the sole proprietorship, is not created by filing papers with the state in the same way as is done for a corporation or a limited liability company (LLC)

an arrangement between two or more partners whereby each of the partners are jointly and severally liable to the extent of all their assets for the company's liabilities

an association of at least two or more persons who co-own a business

an association of at least two persons and whose members are jointly and severally liable to the obligations of the association to the full extent of their personal wealth

an association of two or more parties to operate a business for profit

an association of two or more partners, each as a general partner with full status of unlimited personal liability and managerial control

an association of two or more persons doing business

an association of two or more persons or entities, pursuant to a contract, to operate a business together for joint benefit

an association of two or more persons or entities to carry on as co-owners of a business for profit

an association of two or more persons to carry on a business as co-owners for profit

an association of two or more persons who are jointly liable for the debts of the partnership to the extent of their personal fortunes

an association which trades under a business name and in which all the partners are liable in a subsidiary, unlimited and joint manner for business obligations

an enterprise with unlimited liability established on the basis of a partnership agreement by several individuals or legal persons

an enterprise with unlimited liability, whose property cannot be separated from the property of the individual partners

an informal business entity and could be formed by a handshake or by merely referring to each other in business and in public as partners," says Brian T

an organization of two or more individuals (corporations cannot be partners) formed for the purpose of operating a trading, industrial, or other enterprise based on commercial principles

an unincorporated entity (either U

a relationship existing between two or more persons who join together to carry on a trade or business for profit

a simple partnership structure made up of two or more people who wish to do business together

a voluntary association of two or more persons as co-owners in a business for profit

A partnership that has only general partners and no limited partners. Each partner is liable for all partnership debts and there is no limited liability.

An association of two or more people, each with unlimited liability, who are actively involved in the business.

An association of two or more people or firms that carry on a business for profit. A general partnership must register in the city or town in which their business will operate.

A business created by the agreement of the parties and one in which the personal liability of each general partner is unlimited.

An association of two or more owners to carry on a business, for a valid business purpose, for profit. The owners, who do not necessarily have to be individuals, are jointly and severally liable for the debts, tort claims, and other obligations of the partnership. Accordingly, they have unlimited personal liability for any claims against the business, including those arising from the actions of other partners or other persons when acting for the business. A partnership is a pass-through entity for federal income tax purposes and pays no tax itself, acting only as a conduit in passing all items of partnership income, gain, losses, deductions, and credits through to the partners.

a partnership in which each partner has a hand in managing the business and assuming unlimited personal liability for any debts

A form of business where two or more persons enter into an agreement to conduct business. Profits and losses are shared in a predetermined fashion and all partners are jointly and severally liable for debts of the general partnership.

An organizational structure in which each general partner shares in the administration, profits and losses of the operation.

An ownership entity in which two or more partners are involved, and which results in unlimited liability for the owners, unlike a Corporation.

in a partnership, a partner whose liability is not limited. All partners in an ordinary partnership are general partners. A limited partnership must have at least one general partner.

A form of partnership in which the general partners possess the right to participate in the management of the partnership. However, general partners have the disadvantage of unlimited liability for all of the partnership's debts and obligations.

An association of two or more individuals or companies that want to conduct a for-profit business as co-owners.

A partnership where all partners have joint ownership and liability.

In a general partnership, all the partners participate in the operation and management of the business and share full liability for business losses and obligations. (See partnership) Uniform Partnership Act —Full Text

A form of ownership in which more than one entity is involved, usually formed by agreement, in which all entities are, to degrees stipulated in the agreement, responsible for the success or failure of a business.

partnership in which all partners are general partners.

A partnership in which each partner is liable for all partnership debts and obligations regardless of the amount of the individual partner's capital contribution.

PARTNERSHIP with no limited partners. (See LIMITED LIABILITY PARTNERSHIP and LIMITED PARTNERSHIP.)

Embodies the financial and personal resources of two or more persons who share in the owning and running of the business.

A business enterprise owned and operated by two or more persons for the purpose of generating business income and profits.

A arrangement by which partners conducting a business jointly have unlimited liability, which means their personal assets are liable to the partnership's obligations.