Dictionary
limited partnership
a partnership in which the business is managed by a general partner who manages the business and whi is personally liable (=responsible) for the partnership's debts and obligations
He is investing in real estate through a limited partnership.
Phrase Bank
- She is one of the primary authors of California's limited partnership laws.
- Equitable had paid $16 million for that limited partnership interest.
- What about setting up a limited partnership?
- lawyer for the limited partnership
- to start a limited partnership
Additional Notes
- Capital is provided by limited partners who do not participate in management of the business but share in profits and enjoy limited liability protection, ie their liability is limited to their individual capital contributions.
Related terms: - limited partner
- general partnership