General Partner
In a partnership, a general partner is someone who is responsible for the daily management of the partnership and is personally liable for its debts.
Business Glossary provided by Plannit.ai
A general partner carries unlimited liability for the partnership's debts and has the authority to make managerial decisions. Unlike limited partners, who contribute capital and have limited liability without being involved in daily management, general partners are fully exposed to the partnership's risks and operational obligations.
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