General Partnership
A general partnership, the basic form of partnership under common law, is in most countries an association of persons or an unincorporated company with the following major features: must be created by agreement, proof of existence and estoppel; formed by two or more persons; the owners are jointly and severally liable for any legal actions and debts the company may face, unless otherwise provided by law or in the agreement. It is a partnership in which partners share equally in both responsibility and liability.
Also known as
Unlimited Partnership, General Partnership, Offene Handelsgesellschaft, Sociedade em nome coletivo, Société en nom collectif, 普通合伙, 普通合同会社
Ancestry path
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