Limited Partnership - LP

What does it Mean? Two or more partners united to conduct a business jointly, and in which one or more of the partners is liable only to the extent of the amount of money that partner has invested. Limited partners do not receive dividends, but enjoy direct access to the flow of income and expenses.
 
This term is also referred to as a "limited liability partnership" (LLP).
Investopedia Says... The main advantage to this structure is that the owners are generally not liable for the debts of the company.

Terms Related Links

Charging Order
Club Deal
Dangerous Asset
Distribution Reinvestment
DUNS Number
Joint Liability
Master Limited Partnership - MLP
Partnership
Shotgun Clause
Unlimited Liability Corporation - ULC

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