NEWSdial.com is a Resource of Well Researched Articles, Information, News, and Videos
 Follow us on Twitter


 

Home > Workplace > Company Types
General Menu

 

Basic Information About Limited Partnerships

A limited partnership is a partnership that is similar to a general partnership, except that in addition to there being one or more general partners, there are one or more limited partners. The general partner(s) are each personally liable for the debts of the partnership, and usually hold full managerial control. The limited partner(s) have limited liability, meaning that they are only liable to the extent of their investment, and no management authority. 

This type of partnership is most common in the film industry or in types of businesses that focus on a single or limited-term project. They are also useful in "labor-capital" partnerships, where one or more financial backers prefer to contribute money or resources while the other partner performs the actual work.

In most states, a Limited Partnership can elect to become a Limited Liability Limited Partnership (or LLLP). In this arrangement, every partner is liable only for the business debts of the company, and not for acts of malpractice or other wrongdoing done by the other partners in the course of the partnership's business.

Share/Save/Bookmark



This article is licensed under the GNU Free Documentation License.

> Return to Company Types Reference Section
> Return to Workplace Main Reference Category
> Return to NEWSdial.com

 
Our Blogs

The Daily News

Other Sites We Run

Online Dating

Solar Power

STD Info Center

Funny Video Clips

Parkour Videos

Hidden Camera Pranks

Kindle Edition Books

Wii Games Magazine

Parp Inhibitors Cancer

Sites of Our Friends

Real Estate Tips

Pellet Stove Parts


Our Videos

NEWSdial.com
produced these videos:

Japanese Balloon Bombs

Cute Cats

Cuddly Kittens

Newsletters

ASA Newsletter
The ASA newsletter
contains vital information on research and news related to Allergies, Sinusitis, and Asthma.
Subscribe
Archives
FAQ

Our Contact Info

NEWSdial.com
29030 Town Center Loop E.
Suite 202 - 188
Wilsonville, OR 97070
info@newsdial.com

Privacy Policy

View our Privacy Policy


NEWSdial.com is a reference directory and news resource with a focus on unique news articles.
NEWSdial.com is a customer-friendly news and reference site.
NEWSdial.com is not responsible for the content of external sites listed.
All NEWSdial.com articles are copyright 2004-2009 by NEWSdial.com. All Rights Reserved.
Online Dating Directory | Online Dating Newsletter | Web Marketing Consulting |
Webmaster Articles | Online Dating Industry | Dating Games