Under the quasistatic approximation, the characteristics of a local plasmon resonance of a metal nanostructure exhibit several general properties. The resonance frequency depends on the fraction of plasmon energy residing in the metal through the real dielectric function of the metal. For a given resonant frequency, the Q factor of the resonance is determined only by the complex dielectric function of the metal material, independent of the nanostructure form or the dielectric environment. A simple result describing the effect of optical gain on the Q factor is also obtained.