What is difference between general partner and limited partner

Question

Accepted Answer

General partners have management control and unlimited liability, while limited partners have no management control and limited liability.

General partners have unlimited liability for the debts and obligations of the partnership.
Limited partners have limited liability, meaning they are only liable up to the amount of their investment.
General partners have management control and are actively involved in the day-to-day operations of the business.
Limited partners have no management control and are more like passive investors.
General partners typically receive a higher share of the profits but also bear more risk.
Limited partners have a more predictable return on investment but have less say in how the business is run.

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