What is a Limited Partnership?
A partnership is made up of two or more people who jointly carry on business with a view to profit. Partnerships can be either general or limited.
A limited partnership is one where the liability of one or more partners for the debts and obligations of the business is limited. A limited partnership consists of one or more general partners (whose liability is unlimited) and one or more limited partners.
A general partnership is one where all partners are equally responsible for the management of the business, and each has unlimited liability for the debts and obligations it may incur.
Download our Limited Partnership Agreement Now and limit the liability for the debts and obligations of the parties to your Partnership.