Managing Partner
From LawDepot Law Library
Definition of "Managing Partner"
A partnership may have a managing partner who is responsible for managing the business. The managing partner will make all the day-to-day decisions of the partnership. The managing partner will have unlimited liability for the debts and obligations of the company. All partners in a general partnership will have the right to participate in the management and control of the partnership unless the management obligations are delegated to one or more managing partners in the partnership agreement.
