A general partnership is a business arrangement between 2 or more people. A partnership is created by default when 2 or more people are engaged in business but have not formed another entity, such as a corporation, an LLC or a limited partnership. In a general partnership, every partner has the ability to actively manage and control the business and each partner also are responsible for all of the debts and liabilities of the partnership. There is no limit to this exposure for the debts and liabilities of the partnership. Personal assets of the partners may be used to satisfy business debts and liabilities if necessary. A limited partnership, on the other hand, provides protection for the limited partners of the limited partnership from the debts and liabilities of the limited partnership. A limited partnership must have at least 2 partners, one general partner and one limited partner. Unlike the limited partners, general partners of a limited partnership are responsible for the debts and liabilities of the partnership. Personal assets of the general partners may be used to satisfy business debts and liabilities if necessary. The general partner(s) of a limited partnership are responsible for operating and managing limited partnerships. Limited partners typically are silent investors and do not get involved in operating or managing limited partnerships. In most States, unlike a general partnership, to form a limited partnership Articles or a Certificate of Formation must be filed with the State (usually the Secretary of State’s office) in order to form a limited partnership.