General partnerships (ANS/DA)
Last updated: 1 October 2024.
A general partnership is a company of two or more partners who have unlimited, personal liability for the company's obligations.
There are two types of general partnerships:
- General partnership (ANS) where all the partners have an unlimited, personal liability for the company’s obligations.
- General partnership with shared liability (DA) where the partners have shared liability for the company’s obligations.