A General partnership is a kind of partnership that is formed by 2 or more persons and all the owners are personally liable for the legal actions and debts of the company. Whereas a limited partnership is different from General partnership such that in addition to the general partners, there are also one or more Limited partners, who are only liable for the amount they have invested in the firm and have no management authority. The main difference between a private limited company and a Limited partnership is that all the shareholders in a Private Limited have limited liability, unlike a Limited Partnership.
