Medical Partnership with Managing Partner — General Practice is an agreement between two or more physicians to share the costs and responsibilities of a medical practice. This type of medical partnership is often used by physicians who are just starting out in practice, or by those who are expanding their services. In this type of partnership, the managing partner is responsible for the overall management of the practice, including financial and legal matters, while the other partners provide medical care services. The managing partner is also responsible for recruiting and overseeing staff, managing administrative and operational tasks, and ensuring that the practice is compliant with state and federal regulations. The two main types of Medical Partnership with Managing Partner — General Practice are full partnership and limited partnership. A full partnership is where all physicians involved in the practice are equally responsible for the management and operations of the practice, and all partners are legally liable for any debts or obligations incurred. A limited partnership is where one partner is designated as the managing partner and is responsible for the overall management of the practice, and the other partners provide medical care services and are not liable for debts and obligations.