General Partnership General Partnership GP Offene Handelsgesellschaft Société en nom collectif 普通合同会社 Sociedade em nome coletivo 普通合伙 GP Unlimited Partnership A general partnership, the basic form of partnership under common law, is in most countries an association of persons or an unincorporated company with the following major features: must be created by agreement, proof of existence and estoppel; formed by two or more persons; the owners are jointly and severally liable for any legal actions and debts the company may face, unless otherwise provided by law or in the agreement. It is a partnership in which partners share equally in both responsibility and liability.