What does limited partnership mean?
Definitions for limited partnership
lim·it·ed part·ner·ship
This dictionary definitions page includes all the possible meanings, example usage and translations of the word limited partnership.
Wiktionary
limited partnershipnoun
A form of partnership similar to a general partnership, except that in addition to one or more general partners and one or more limited partners.
Wikipedia
Limited partnership
A limited partnership (LP) is a form of partnership similar to a general partnership except that while a general partnership must have at least two general partners (GPs), a limited partnership must have at least one GP and at least one limited partner. Limited partnerships are distinct from limited liability partnerships, in which all partners have limited liability. The GPs are, in all major respects, in the same legal position as partners in a conventional firm: they have management control, share the right to use partnership property, share the profits of the firm in predefined proportions, and have joint and several liability for the debts of the partnership. As in a general partnership, the GPs have actual authority, as agents of the firm, to bind the partnership in contracts with third parties that are in the ordinary course of the partnership's business. As with a general partnership, "an act of a general partner which is not apparently for carrying on in the ordinary course the limited partnership's activities or activities of the kind carried on by the limited partnership binds the limited partnership only if the act was actually authorized by all the other partners."
Wikidata
Limited Partnership
A limited partnership is a form of partnership similar to a general partnership, except that in addition to one or more general partners, there are one or more limited partners. It is a partnership in which only one partner is required to be a general partner. The GPs are, in all major respects, in the same legal position as partners in a conventional firm, i.e. they have management control, share the right to use partnership property, share the profits of the firm in predefined proportions, and have joint and several liability for the debts of the partnership. As in a general partnership, the GPs have actual authority as agents of the firm to bind all the other partners in contracts with third parties that are in the ordinary course of the partnership's business. As with a general partnership, "An act of a general partner which is not apparently for carrying on in the ordinary course the limited partnership's activities or activities of the kind carried on by the limited partnership binds the limited partnership only if the act was actually authorized by all the other partners."
Numerology
Chaldean Numerology
The numerical value of limited partnership in Chaldean Numerology is: 3
Pythagorean Numerology
The numerical value of limited partnership in Pythagorean Numerology is: 9
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"limited partnership." Definitions.net. STANDS4 LLC, 2024. Web. 14 Nov. 2024. <https://www.definitions.net/definition/limited+partnership>.
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