A business organization that allows limited ... and liability and acts as a conduit to pass current operating profits or losses on to them. Most jurisdictions require limited partnership ...

A limited partnership has both general and limited partners. The general partners own and operate the business and assume liability for ... (if the partnership agreement permits).

LLP stands for limited liability partnership. As the name suggests ... In either case, the LLP must be defined by an operating agreement, she says. Difference Between an LLP and LLC An LLC ...