general partner

noun

Definition of general partner

: a partner whose liability for partnership debts and obligations is unlimited

Examples of general partner in a Sentence

Recent Examples on the Web

Rashid says Fox excluded the other general partners from conversations with bidders. Ashley Cullins, The Hollywood Reporter, "Rick Fox Clashes With Esports Venture Partners Over Tournament Slot Sale," 15 Aug. 2019 Bochy pointed to 2008, his second year, when new managing general partner Bill Neukom backed him after the Giants hit 90 wins for the second year in a row. Henry Schulman, SFChronicle.com, "Why Giants manager Bruce Bochy would be OK with losing record on Hall plaque," 25 Aug. 2019 Additionally, another board member Matt Cohler, a general partner at venture capital firm Benchmark, has also resigned from the board. Sara Ashley O'brien, CNN, "Arianna Huffington departs Uber's board," 24 July 2019 Peter Seidler, the San Diego Padres general partner, has chief oversight of all activities of Seidler Equity Partners. baltimoresun.com, "MLB commissioner Rob Manfred: Baseballs not juiced, but decreased drag puzzling," 10 July 2019 The general partner at venture capital firm Bond Capital delivered a rapid-fire 333-page slideshow that looked back at every important internet trend in the last year and looked forward about what these trends tell us to expect in the year ahead. Rani Molla, Vox, "Mary Meeker’s most important trends on the internet," 11 June 2019 Among Dig Inn’s most recent investors is Enlightened Hospitality Investments, in which Danny Meyer’s Union Square Hospitality Group is a minority general partner. Michael Klein, https://www.inquirer.com, "Dig Inn, a fast-growing, fast-casual restaurant out of New York, to open in Philly," 4 June 2019 The collection is owned by Robert Ingram, a general partner in a venture capital firm who previously served as the CEO of a major pharmaceutical company. Ben Finley, The Seattle Times, "Gas explosion also damaged world-famous Porsche collection," 12 Apr. 2019 Acting as a sort of Silicon Valley emissary to the Wall Street crowd, Bill Gurley, general partner at venture capital firm Benchmark, also took the stage later in the afternoon. Jen Wieczner, Fortune, "Why a Top VC Would Buy Facebook Stock — But Not Tesla," 24 Apr. 2018

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'general partner.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of general partner

1887, in the meaning defined above

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Last Updated

18 Sep 2019

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The first known use of general partner was in 1887

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More Definitions for general partner

general partner

noun

Financial Definition of general partner

What It Is

A general partner is a member of a partnership that can incur debt or obligations on behalf of the partnership and is personally liable for those debts or obligations.

How It Works

In some partnerships, all the partners are general partners, and they are all liable for the debts and obligations of the business. In other partnerships, some of the partners are general partners and others are limited partners. In those cases (called limited partnerships, or LPs), one or a handful of general partners manage the day-to-day operations of the business and are personally liable for the business's debts.

Unlike general partners, limited partners have no daily management role, cannot encumber the business, and are not personally liable for the business's debts. Instead, they receive a share of the firm's profits in exchange for their capital investments, and usually the worst that can happen is that the value of their investment falls to zero. Limited partners who take managerial roles could be considered general partners in the eyes of the law.

Why It Matters

General partners bear the lion's share of the risk in a partnership. They must make important decisions about the company, and they must be prepared to forfeit their personal assets in a worst-case scenario. Day-to-day management and risk burdens are two reasons general partners usually receive management fees in addition to large percentages of the partnership's profits.

Source: Investing Answers

general partner

Legal Definition of general partner

see partner

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