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Investors Handbook. A Legal Guide to Business in Georgia

General Partnership Liability A general partnership can be set up by two or more persons. Unlike the partners in the limited li- ability company, the founders of the general partnership have unlimited liability against creditors and are jointly liable for the debt obligations of the company to the extent of their entire personal property. Charter capital With regard to the personal liability of partners to the creditors of the company, the Law on En- trepreneurs does not require the creation of charter capital for setting up a general partnership. Rights and Obligations of Partners Each partner of the company is entitled to participate in the management of the company. Any partner who does not participate in the management of the company is entitled to become familiar with details of the company's activity, as well as any financial or other type of documentation related to the operations of the company. Management