1. member of a partnership who is jointly and severally liable for all debts incurred by the partnership -that is, a partner who does not have limited liability .
2. managing partner of a limited partnership who is in charge of its operations. A general partner has unlimited liability. See also limited partner .

1. one of two or more partners who are jointly and severally responsible for the debts of a partnership.
2. managing partner of a limited partnership , who is responsible for the operations of the partnership and, ultimately, any debts taken on by the partnership. The general partner's liability is unlimited. In a real estate partnership, the general partner will pick the properties to be bought and will manage them. In an oil and gas partnership, the general partner will select drilling sites and oversee drilling activity. In return for these services, the general partner collects certain fees and often retains a percentage of ownership in the partnership.

co-owner of an unincorporated business, who holds a share of the firm's profits or losses, and is fully liable for its debts. Also, the managing partner in a venture capital limited partnership. A general partner has unlimited personal liability for the debts of the partnership.

in a partnership a partner whose liability is not limited. All partners in an ordinary partnership are general partners. As a general rule, partners include on their personal tax returns their share of partnership income, loss, and deductions.

in a partnership , a partner whose liability is not limited. All partners in an ordinary partnership are general partners. A limited partnership must have at least one general partner.

Example: The general partner in a limited partnership is the syndicator who arranges the purchase, seeks investors, and assumes all liabilities of the partnership.