General Partnership

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Definition:   An association of two or more persons for the purpose of jointly conducting a business and sharing full liability for the debts and obligations of the partnership.

Pronunciation:  \ˈjen-rəl, ˈje-nə-\ \ˈpärt-nər-ˌship\

Used in a Sentence:   The two brothers formed a general partnership to start their construction business.

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