Definition
In most countries, a general partnership is an association of persons or an unincorporated company with the following major features…
General Partnership
What is a ‘General Partnership’
A general partnership is an arrangement by which partners conducting a business jointly have unlimited liability, which means their personal assets are liable to the partnership’s obligations.
Explaining ‘General Partnership’
Since all partners have unlimited liability, even innocent partners can be held responsible when another partner commits inappropriate or illegal actions. This fact alone demonstrates how an investor should heed caution when deciding on whether to become a general partner.
Further Reading
- The economics of infrastructure finance: Public-private partnerships versus public provision – www.econstor.eu [PDF]
- Partnership, equity-financing and Islamic finance: whither profit-loss sharing? – papers.ssrn.com [PDF]
- Trends in park tourism: Economics, finance and management – www.tandfonline.com [PDF]
- The economics of small business finance: The roles of private equity and debt markets in the financial growth cycle – www.sciencedirect.com [PDF]
- The economics of the private equity market – heinonline.org [PDF]
- The political economics of investment Utopia: public–private partnerships for urban infrastructure finance – www.tandfonline.com [PDF]
- The economics of public-private partnerships – www.jstor.org [PDF]
- Financing of the trans-European high-speed rail networks:: New forms of public–private partnerships – www.sciencedirect.com [PDF]
- The basic public finance of public–private partnerships – academic.oup.com [PDF]
