question.jpgIn Business Law

What is the owner of a partnership called?

The owners of a partnership are called, as one might guess, partners. When the partnership is a general partnership, they are all simply called partners or general partners. However, when the partnership is a limited partnership, the owners will be split between general partners (those who manage and run the partnership) and limited partners (those who are simply silent investors). By way of comparison, the owner of a sole proprietorship is called a sole proprietor, the owners of a corporation are called shareholders and the owners of an LLC are called members.