Final answer:
A general partnership is a business organization where partners share responsibility and profits. It has disadvantages like personal liability and the risk of losing personal assets.
Step-by-step explanation:
A general partnership is a type of business organization where two or more people work together to own and run a business. In a general partnership, the partners share in the responsibility and the profits of the business. However, there are some disadvantages to forming a general partnership, such as personal liability for the business's debts and the risk of losing personal assets in the event of bankruptcy or lawsuit.