general partnership

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general partnership

n.
A business partnership in which each of the partners is liable for the actions of any of the other partners.
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

gen′eral part′nership


n.
a partnership in which each of the partners is fully liable for the firm's debts. Compare limited partnership.
Random House Kernerman Webster's College Dictionary, © 2010 K Dictionaries Ltd. Copyright 2005, 1997, 1991 by Random House, Inc. All rights reserved.
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References in periodicals archive
The Partnership intends to use the net proceeds of sales of the Common Units for general partnership purposes, including the funding of potential drop-downs and other acquisitions.
SECP recently introduced the concept of limited liability partnership which combines the flexibility of a general partnership and the advantages of limited liability of a company, which is mainly useful for the business community, especially for small investors.
The limited liability partnership (LLP) is an alternative form of business establishment, which has the flexibility of a general partnership as well as the advantages of a limited liability company, said a press release issued here Monday.
White Owl has entered into a long-term strategic agreement with Trafigura Canada General Partnership whereby Trafigura will provide crude oil marketing services for the terminal.
It intends to use the net proceeds from any exercise of the underwriters' option to purchase additional common units for general partnership purposes, which may include the purchase of an additional ownership interest in the owner of the entities that own and operate the Hoegh Grace.
Further, there were e-registrations for 8145 single traders, 5 Omani closed joint-stock companies (Subject to the act of foreign investments), 1325 general partnerships, 11 international company branches, a commercial mandate office, and finally a general partnership firm (Subject to the Act of foreign investments).
However, New Hampshire general partnership law had--and still has--many grave flaws.
If you have more than one owner, the next simplest entity is a general partnership. A general partnership has essentially the same filing requirements as a sole proprietorship--a dba application and local business license.
MANAMA: A call has gone out to seriously consider converting Bahrain's family businesses into general partnership companies to face challenges and ensure continuity.
These penalties are imposed even if all taxes have been paid or (as is the case with a general partnership) no taxes are imposed.
Morgan Stanley (NYSE: MS) has announced that its private equity arm has acquired Canada-based, Access Cash General Partnership.
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