A General Partner is a member of a partnership whose liability is not limited. In any standard partnership, all partners are general partners by default, whereas a limited partnership must have at least one general partner.
A limited partnership (LP) is a business structure where at least one partner is passive, with liability limited to their investment, and at least one partner with unlimited liability.
A partnership is an agreement between two or more entities to enter into a business or investment together, where each partner may bind the other within the scope of their arrangement, and all partners share liability for the partnership's debts.
