a potential drawback of sole proprietorships and partnerships is that the parties involved have?

The owners are responsible for any debts.

Full risk as well as full reward. If the business flounders, they are personally responsible for all liabilities of the company.

Back to the beginning for this purpose and time.
Have separated and gone out on their own for this purpose and time.
Hope that you find the above enclosed information useful. 12/07/2014

have what?
the thing with partnerships is that even though you might have a written agreement between you one of the partners can undo the whole thing in an instant
I had this happen with a partner I trusted and we agreed but she also could sign on the bank account she wrote checks and wiped it out before there was a thing I could do