Recent Examples of general partner from the Web
Katie Haun, a former federal prosecutor who advises startups on the cryptocurrency industry, will become its eleventh general partner as the firm pushes into the crypto sector full-time.
One of the leaders of the new fund will be the firm’s first female general partner, Kathryn Haun, a former federal prosecutor.
Energy pipeline billionaire Kelcy Warren made a personal call to the CEO of NuStar Energy earlier this month looking to buy its general partner NuStar GP Holdings.
Roelof Botha, a Sequoia general partner, declined to comment.
That brings the possibility of relocation, which could have implications for the Suns, since managing general partner Robert Sarver wants to upgrade Talking Stick Resort Arena.
Lime said Joe Kraus, a general partner at GV, would become a company board member.
The general partners, listed on group's 2002 filing with the State of Michigan, were noted as Thomas G. Corley Jr. and Norma R. Schropshire.
But in addition to signaling its seriousness about the technology, general partner Chris Dixon says that creating a fund will give the firm more flexibility to make different types of investments.
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.
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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