A default business structure created when two or more people operate a business together without forming a legal entity — each partner is personally liable for all business debts.
A general partnership is what automatically exists when two or more people go into business together without forming an LLC or corporation. No formal registration is needed — the partnership arises by operation of law the moment you start sharing profits and losses.
The critical problem with a general partnership is joint and several liability: each partner is fully personally liable for all of the partnership's debts and legal obligations, including those caused by the other partners. If your business partner makes a bad deal or causes harm to someone, creditors can come after your personal assets — even if you had nothing to do with it.
This is why almost no serious business operates as a general partnership once founders understand the implications. Forming an LLC takes a few hours and provides the liability protection a general partnership lacks. The only advantage of a general partnership is simplicity — no filing, no fees, no paperwork — but that's a poor trade for unlimited personal exposure.