(1) ProActive's products were developed in collaboration with Mohr general partner, William Davidow.

(2) Melrose Petroleum is the general partner and manages the business.

(3) General partners personally liable for business debts.

(4) This produces a lack of alignment between general partners and limited partners.

(5) General partners can raise cash without involving outside investors in management of business.

(6) General partners of a LP may be in the form of another person or company.

(7) General partners may have unlimited liability. Limited partners enjoy limited liability.

(8) In addition, the general partners retain unlimited liability for the debts and obligations of the partnership.

(9) Unless otherwise agreed to in the partnership agreement, a loss of general partners dissolves the partnership.

(10) Thus, the concept of unlimited liability and mutual agency apply only to the general partners of a limited partnership .

(11) Chinese banks are barred from participating in private equity, either as limited or general partners.