Limited partnership


 

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Limited partnership

A partnership comprising a general partner and limited partners. The general partner operates the partnership and is fully liable for the debts of the firm. Limited partners receive some of the profits and have no influence in management. However their liabilities are limited to their original investment.

Limited partnership

A partnership that includes one or more partners who have limited liability.



Limited partnership

Similar Matches

Partnership

Partnership

Two or more people who jointly own a business. There are two types of partners, that is, general partners and limited partners. General partners are fully responsible for the debts of the business and have unlimited liability. Limited partners are liable only to the extent of their original investment and are not allowed to participate in its management.


Equipment leasing partnership

Equipment leasing partnership

A limited partnership that receives income and tax benefits such as depreciation costs by purchasing equipment and leasing it to other parties.


Master limited partnership (MLP)

Master limited partnership (MLP)

A publicly traded limited partnership.


Income limited partnership

Income limited partnership

A limited partnership whose main goal is income generation, e.g., real estate, oil equipment.


Partnership agreement

Partnership agreement

A written agreement among partners detailing the terms and conditions of participation in a business ownership arrangement.


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