Recent Examples of general partner from the Web
Hunter Walk, a Homebrew general partner and limited partner in 500 Startups’ first fund, said he wasn’t notified of the leadership change until after the New York Times published its report about Mr. McClure’s misconduct.
The moves cap a rapid fall for Mr. McClure and come just days after 500 Startups announced a new leadership structure in which he was demoted to general partner and replaced as chief executive by his co-founder, Christine Tsai.
The younger Bush once was a part owner and managing general partner of the Texas Rangers.
Don Wagner Contributed photo Wagner is a private investor and general partner of Wagner Investments.
That firm's founder and general partner Joe Colonnetta gave $33,000 to the campaign of then-Texas Gov. Rick Perry, who is now Energy secretary.
Investors from Boca Raton, Fla., paid $475,000 for a 16,700-square-foot warehouse on almost 2 acres on Michigan Avenue near Ala. 59 in Foley, according to Stacey Ryals, a general partner in the investment.
Len Stevens, the general partner in the restaurant, said the site will be open at 7 a.m. daily, closing at 8 p.m. Sunday through Thursday and at 9 p.m. on Friday and Saturday.
Paul Martino, general partner at bullpen capital, started as an entrepreneur at age 14 in Lansdowne.
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First Known Use of general partner
Financial Definition of GENERAL PARTNER
What It Is
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.
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