The difference between a partner and a managing partner is their ownership status within the business. A partner, for example, has ownership interest in a partnership but does not have to manage the business.
On the other hand, a managing partner also has an ownership interest in the partnership but is also responsible for managing the business.
A managing partner is essentially a person who is both an owner of the partnership and a manager of the partnership business operations.
A managing director, on the other hand, is a person who is responsible for the business operations but who does not share ownership in the company, while a partner has a stake in the ownership but has no influence over business operations.
The main difference between a managing partner and a partner is that the managing partner must be actively involved in the business, whereas a partner can remain passive.
Typically, the partners of a firm make decisions related to the overall strategic mission and direction of the business, and the managing partners will be actively involved in the business to ensure the successful implementation and execution of the overall business objectives.
