general partnership Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “general partnership” in the English Dictionary

"general partnership" in Business English

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general partnershipnoun [C]

uk   us   FINANCE
a ​company that is ​owned by two or more generalpartners who ​share its ​profits and must ​pay its ​debts if it goes ​bankrupt: He will ​assume the ​CEOduties on ​Jan. 1, and will ​join the ​current four-member ​generalpartnership.
(Definition of general partnership from the Cambridge Business English Dictionary © Cambridge University Press)
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