Limited Partnership in United States
Limited Partnership Definition
One wherein the liability of one or more of the members is, by compliance with certain statutory provisions, limited to the amount of their contribution to the capital stock. The term special partnership is sometimes used; but limited partnership seems better, for particular partnerships, or partnerships for a single transaction, are sometimes called special partnerships.
Limited Partnership in Foreign Legal Encyclopedias
| Link | Description |
|---|---|
| Limited Partnership | Limited Partnership in the World Legal Encyclopedia. |
| Limited Partnership | Limited Partnership in the European Legal Encyclopedia. |
| Limited Partnership | Limited Partnership in the Asian Legal Encyclopedia. |
| Limited Partnership | Limited Partnership in the UK Legal Encyclopedia. |
| Limited Partnership | Limited Partnership in the Australian Legal Encyclopedia. |
For starting research in the law of a foreign country:
Browse the American Encyclopedia of Law for Limited Partnership
Scan Limited Partnership in the appropriate area of law:
| Link | Description |
|---|---|
| Limited Partnership | Limited Partnership in the Family Law Portal of the American Encyclopedia of Law. |
| Limited Partnership | Limited Partnership in the IP Portal of the American Encyclopedia of Law. |
| Limited Partnership | Limited Partnership in the Commercial Law Portal of the American Encyclopedia of Law. |
| Limited Partnership | Limited Partnership in the Criminal Law Portal of the American Encyclopedia of Law. |
| Limited Partnership | Limited Partnership in the Antritrust Portal of the American Encyclopedia of Law. |
| Limited Partnership | Limited Partnership in the Bankruptcy Law Portal of the American Encyclopedia of Law. |
| Limited Partnership | Limited Partnership in the Constitutional Law Portal of the American Encyclopedia of Law. |
| Limited Partnership | Limited Partnership in the Tax Law Portal of the American Encyclopedia of Law. |
| Limited Partnership | Limited Partnership in the and Finance and Banking Portal of the American Encyclopedia of Law. |
| Limited Partnership | Limited Partnership in the Employment and Labor Portal of the American Encyclopedia of Law. |
| Limited Partnership | Limited Partnership in the Personal Injury and Tort Portal of the American Encyclopedia of Law. |
| Limited Partnership | Limited Partnership in the Environmental Law Portal of the American Encyclopedia of Law. |
Explore other Reference Works
| Resource | Description |
|---|---|
| Limited Partnership in the Dictionaries | Limited Partnership in our legal dictionaries |
| http://lawi.us/limited-partnership | The URI of Limited Partnership (more about URIs) |
| Limited Partnership related entries | Find related entries of Limited Partnership |
Legal Issue for Attorneys
One wherein the liability of one or more of the members is, by compliance with certain statutory provisions, limited to the amount of their contribution to the capital stock. The term special partnership is sometimes used; but limited partnership seems better, for particular partnerships, or partnerships for a single transaction, are sometimes called special partnerships.
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Notice
This definition of Limited Partnership is based on The Cyclopedic Law Dictionary. This entry needs to be proofread.
Plain-English Law
Limited Partnership as defined by Nolo’s Encyclopedia of Everyday Law (p. 437-455):
A business structure that allows some partners (called limited partners) to enjoy limited personal liability for partnership debts while other partners (called general partners) have unlimited personal liability. Limited partners are usually passive investors; they are not allowed to make day-to-day business decisions.
Practical Information
Note: Some of this information was last updated in 1982
A partnership in which the liability of one or more special partners for debts of the firm is limited to the amount of the partner’s investment in the business. Special partners have no voice in the management of the partnership. They merely invest: money and receive a certain share of the profits. There must be one or more general partners who manage the business and remain liable for all of its debts. A limited partnership is organized under state statutes, usually by filing a certificate in a public office and publishing a notice in a newspaper. The statutes, codified in many states as the Uniform Limited Partnership Law, must be strictly observed. A limited partnership may be regarded as a general partnership in states other than the state in which it is organized; therefore, it may be advisable to register and form a limited partnership with the same firm members under the laws of each state in which it wishes to do business.
What is Limited Partnership?
For a meaning of it, read Limited Partnership in the Legal Dictionary here. Browse and search more U.S. and international free legal definitions and legal terms related to Limited Partnership.