If you are in a general partnership, make sure it is a limited liability partnership.

If you are in business with someone else, you do not want to form a general partnership. There is no limited liability for general partners, so you are personally liable for the actions of the partnership. A partnership agreement can be oral, so if you are in business with someone else and making money, you are likely in a general partnership (unless you purposely formed a different business entity).

If you have to be in a partnership, make sure it is a limited liability partnership. As you would guess, you get limited liability.