What is a common feature of a general partnership?

A common feature of a general partnership is that all owners share in business operations and liabilities. In a general partnership, each partner has the right to participate in the management of the business and is also personally liable for the debts and obligations incurred by the partnership. This means that if the business faces financial difficulties, creditors can pursue not just the partnership's assets, but also the personal assets of each partner. Such a structure encourages collaboration and joint decision-making among the partners, as they all have a vested interest in the success of the business and share the risks associated with it.

The other choices reflect misunderstandings of how general partnerships function. For instance, the idea that no one assumes liability contradicts the nature of a general partnership, where liability is indeed shared among partners. The concept that ownership must be equal is misleading, as partners can contribute varying amounts of capital, labor, or expertise, leading to differing ownership percentages. Lastly, the notion that only certain partners are liable aligns more with structures like limited partnerships, where only specific partners (the general partners) have liability, while limited partners enjoy protection from personal liability.