Choosing between a General Partnership and a Limited Partnership depends on your specific business needs and circumstances. General Partnership: Management: All partners have equal say in the business and are involved in the day-to-day operations. Liability: Partners agree to unlimited liability, meaning their personal assets are at risk for the business’s debts and obligations. Decision Making: All partners have the authority to make key decisions that affect the partnership. Limited Partnership: Management: Limited partners do not assist with day-to-day operations. The general partner(s) manage the business. Liability: Limited partners’ liability is limited to the amount of money or property they invest. Profit Sharing: The general partner(s) gets a bigger share of the earnings in exchange for increased contributions and risk. In summary, if you want all partners to be equally involved in management and decision-making, and they are willing to accept unlimited liability, a General Partnership may be the right choice. On the other hand, if you want to limit the liability of some partners and have a clear separation between management and investment, a Limited Partnership could be more suitable.