Phrases with «general partnership»

A general partnership is a type of business where two or more individuals come together to own and operate a company. In this type of partnership, all partners share equal responsibility, liability, and profits. It means they work together and are jointly responsible for the business's success or failure. Full definition

Sentences with «general partnership»

  • Sounds to me as a simple general partnership agreement should be written and in place for your situation. (biggerpockets.com)
  • Our transactional attorneys help choose the right legal entity for your company, whether it is a corporation, limited partnership, limited liability company, joint venture or just a simple general partnership. (holmlawgroup.com)
  • If the firm is a traditional general partnership, the firm and its partners are responsible for all activities of other partners, employees or agents. (practicepro.ca)
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