A limited liability partnership, or LLP, is a fairly new provision in laws of many states that increases the liability protection for partners in general partnerships and limited partnerships.

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 ...

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 ...

An LLP is an unincorporated business owned and run by multiple people whose assets are protected. Many, or all, of the products featured on this page are from our advertising partners who compensate ...

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 ...

Opinions expressed by Entrepreneur contributors are their own. A partnership is a business form created automatically when twoor more persons engage in a business enterprise for profit.Consider the ...

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 ...

Learn the differences and similarities of these two partnership types so you know which business entity to choose. Many, or all, of the products featured on this page are from our advertising partners ...

A business organization that allows limited partners to enjoy limited personal liability while general partners have unlimited personal liability A limited partnership is similar to a general ...

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 ...