 |
general partner
A person who joins with at least one other to own and operate a business for profit -- and who (unlike a corporation's owners), is personally liable for all the business's debts and obligations. A general partner's actions can legally bind the entire business. See also partnership, limited partnership.
More Definitions
| |
|
|
|
Can I safely start a business with a money-bungling buddy?
My friend and I are thinking about going into business together. He's creative, he's hardworking -- and he's very irresponsible with money (he once bought a vintage video game machine instead of paying his rent). His credit isn't so hot, either. Are there ways I can protect myself?
> more
| |
|
