North Carolina General Partnership Definition
North Carolina General Partnership
DEFINITION
North Carolina General partnerships are not registered with the NC Secretary of State’s Office. However, if the entity is to have a name other than the names of the general partners, a certificate of assumed name is required to be filed with the Register of Deeds Office in the county where the principal office is located. Created by agreement of two or more owners. When two or more owners engage in business without forming some other business entity, such as a corporation or limited liability company, a partnership exists by default. It is not necessary to file any documents with the Secretary of State to create such a business; although, such documents as assumed name certificates, trademark registrations, etc. may be advisable. The partners have unlimited personal liability for the debts and obligations of the general partnership.
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