A partnership that involves two or more individuals who share ownership and management of the business.

• Control - general partnership will cease to exist upon death of one of the general partners. Partners mus approve the sale of a partnership interest.
• Liability - each partner personally liable for the partnership and for the actions of the general partners.
• Taxes - the income from the partnership flows to each partner based on his or her share of ownership
• Administrative obligations - no formalities necessary to create general partnership.