A partnership where all partners are general partners. That is, they each hold joint liability in regard to financial responsibility and quite possibly above and beyond their investment.

 

"We decided on a general partnership due to our faith in each other, to make the company successful!"

 

"Be very careful when considering a general partnership, as you risk much more than you invest."

 

"All the partners in the general partnership filed for bankruptcy after defending class action suits filed in 4 states."

 

"The partners in ABC's general partnership change regularly!"