Types of Partnerships General Partnership -all partners have unlimited liability and are liable for all obligations of the partnership Limited Partnership - limited partners have liability limited to their capital contribution(investors only ) At least one general partner is required and all general partners have unlimited liability 2-72-7 Types of Partnerships Limited Partnership -- limited partners have liability limited to their capital contribution (investors only). At least one general partner is required and all general partners have unlimited liability. General Partnership -- all partners have unlimited liability and are liable for all obligations of the partnership