question.jpgIn Business Law

What are the managers of a partnership called?

For a general partnership, which is what most partnerships are, the managers (those who run and control the partnership) are simply referred to as partners - that is, all of the co-owners collectively control the partnership. For a limited partnership, it is the general partners who control and manage the business. By way of comparison, a corporation is controlled and managed by its directors and officers, and an LLC is controlled and managed by either its managers or its managing members.