General partnership
The general partnership is the joining of two or more natural persons in a common commercial business; all partners are liable without limit and jointly and severally for the partnership’s debts.
Definition
It arises without a capital contribution and without a notary, but requires a commercial register entry. What matters is in the partnership agreement: profit sharing, management, exit. Without one the statutory rules apply, and they rarely match the participants’ intent.
Under social insurance law the partners are self-employed, as in a sole proprietorship. Bookkeeping duties and turnover limits likewise match those of the sole proprietorship.
Where to read it
What the software must be able to do
Note the partners’ current accounts: contributions, withdrawals and profit shares run per partner and have to be kept separately. Programs with only one private account are not enough.
Checked Aug 2026
More terms under Legal form and register: AG (public limited company) Association Auditor Commercial register Cooperative GmbH (limited liability company) Liquidation Signing authority (Prokura) Sole proprietorship UID number