The management team for a limited partnership consists of?

In a limited partnership, the management team is composed exclusively of general partners. General partners are the individuals who take on the responsibility for managing the day-to-day operations and decisions of the partnership. They possess unlimited liability for the debts and obligations of the partnership, which also gives them the authority to act on behalf of the partnership. This structure allows limited partners, who typically contribute capital but do not participate in management, to limit their liability to the extent of their investment.

Limited partners do not have a say in the management of the partnership and are primarily investors. Their role is to provide capital and share in the profits, but they are not allowed to engage in management activities without risking their limited liability status. Therefore, while both general and limited partners are part of the partnership, only the general partners form the management team.

Independent contractors might be hired for specific tasks or projects, but they do not have a stake in the partnership or its management structure, and thus are not part of the management team.