The business owner is personally liable for all the obligations of the business. A sole proprietor does not have to be registered with Business Registry unless the business uses an assumed business name. If the name of the business does not include the full legal name of the business owner, the business name must be registered as an assumed business name with Business Registry. This allows the public to identify who is transacting business under that business name. General Partnership A general partnership is an association of two or more persons doing business.
All partners are personally liable for the obligations of the partnership.
A general partnership does not have to be registered with Business Registry unless it uses an assumed business name. If the name of each general partner is not conspicuously disclosed to the public, the business name must be registered with Business Registry. The registration allows the public to identify who is transacting business under that business name. See assumed business name registration .