Glossary of Legal, Business and Financial Terms
This glossary contains definitions of common legal terms, as well as words and phrases related to business and finance. Some terms may have different meanings based on the
area of law or the context in which they are used.
A partnership consisting of one or more general partners who manage the business and who are personally liable for the debts and obligations of the partnership, and one or more limited partners whose liability is limited to the amount of their investment, provided that they do not take part in managing the partnership.