Limited Partnerships
Limited partnerships (LPs) and limited liability partnerships (LLPs) are both businesses with more than one owner, but unlike general partnerships, limited partnerships and limited liability partnerships offer some of their owners limited personal liability for business debts. Learn the pros and cons of LPs and LLPs, how to form them, and how to dissolve them.
An analysis of the key risks and benefits of limited partnerships as to formation, management, legal liability, profit-sharing, and fiduciary duties.
Learn some of the advantages of this type of partnership structure for professionals.
Unlike general partnerships, LPs and LLPs offer some of their owners limited personal liability for business debts.
Take time to weigh the pros and cons of these two different business structures.
Like any business venture, general and limited partners may be faced with how to dissolve a limited partnership at some point in time.
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