General Partner
A partner in a business who has unlimited liability. Investopedia Says:
If a general partner is ever required to meet the partnership's obligations, even his or her personal assets may be subject to liquidation . Often a general partner is also the managing partner, which means this person is active in the day-to-day operations of the partnership. In the case of a limited partnership, only one of the partners will be the general partner and have unlimited liability. The other partners will have limited liability, so their personal assets would not be at risk. Related Terms:
Joint Venture
Limited Partnership
Master Limited Partnership
Partnership
Silent Partner
Sole Proprietorship
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