A partnership is a type of business operated and managed by multiple owners. Following are the types of partnerships: 1. General Partnership: In this type of partnership, each partner has total liability and is responsible for all the business’s debts. 2. Limited Partnership: One partner has unlimited liability and the others have limited liability. Only one partner manages the business with unlimited liability. 3. Limited Liability Partnership: All the partners manage the business but the type of liability may differ. 4. Limited Liability Limited Partnership: In this type of partnership in which one partner is responsible for managing the business but unlike LLP, all the partners have limited liability. If you like this post and want more like these then follow <a href="https://www.linkedin.com/in/franklin-i-ogele-a853771a7/">Franklin I. Ogele</a> and never miss updates.