Limited partnerships (LPs) are a specific type of business structure that consists of at least one general partner and one or more limited partners. The general partner typically assumes full ...

A limited liability limited partnership is a hybrid of various business entities. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take ...

LPs invest capital and receive income, carrying no personal liability beyond their investment. GPs manage daily LP operations but face unlimited personal liability if the LP fails. LPs are taxed as ...

A managing partner filed an involuntary chapter 7 petition against a professional limited liability partnership. The bankruptcy court denied the petition and dismissed the case based on its ...

In certain circumstances, two or more people organize their business as a limited liability partnership to receive some unique benefits. LLPs are often used by professional services businesses, like ...

Limited liability partnerships, or LLPs, came into existence in the United States in 1991 when the state of Texas signed the first LLP law into existence. Many other states soon followed. LLPs provide ...

In today’s litigious society, safeguarding your wealth has never been more important. For high-net-worth individuals, business owners and anyone with substantial assets, protecting those assets from ...