Limited Partnership

A limited partnership is a partnership with one or more general partners which are personally liable for partnership debts, and one or more limited partners which contribute capital and share in the profits of the business.

The limited partners are not liable for the debts of the business, but cannot actively participate in the management of the business. For most purposes, limited partnerships are not as flexible or useful as Limited Liability Companies(LLCs) or Limited Liability Partnerships(LLPs).

Structures:

Starting a Business

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