limited partnership

Definitions

Accounting

  • noun a registered business where the liability of the partners is limited to the amount of capital they have each provided to the business and where the partners may not take part in the running of the business

Construction

Law

  • noun a partnership where the liability of some of the partners is limited to the amount of capital they have each provided to the business while other working partners are fully liable for all the obligations of the partnership

Investing

  • acronymL.P.
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