Partnership is a form of enterprise organization. Partnership in the ordinary sense is an organization with humanity. Each partner bears unlimited liability for the enterprise, that is, he is liable for the debts of the enterprise with all his property.

Opposite is the company. The company is also a form of enterprise organization, but the shareholders or investors of the company bear limited liability to the company, that is, they are only responsible for the debts of the enterprise to the extent of their capital contribution.

Limited partnership is a special form of partnership. What is special is that although it is a partnership, some or all partners bear limited liability for the partnership. Those who undertake limited liability to the partnership are called limited partners, and those who undertake unlimited liability to the partnership are called general partners.

Partnership, limited partnership, special general partnership.