General Partner
A general partner is an individual who manages an LP. In an LP, the General Partner is personally liable for business debts. To avoid personal liability, an entity like a corporation or LLC can be named as a General Partner. Passive partners are called Limited Partners.
A general partner is an individual who manages an LP. In an LP, the General Partner is personally liable for business debts. To avoid personal liability, an entity like a corporation or LLC can be named as a General Partner. Passive partners are called Limited Partners.