Limited Partnership
When it's time for investors, a limited partnership may be right for you.
- Bring in limited partners who invest but are shielded from personal liability.
- Designate general partners who manage the business.
What are some advantages of forming a limited partnership?
A limited partnership can take on investors while allowing the general partners to focus on running the business.
In a limited partnership, what is each partner's liability?
The personal liability of a limited partner is limited to the capital that the partner has invested. A general partner is personally liable for all business debts or claims.
How do I create a limited partnership?
You will need to take some steps to register your LP with your state, but we will help you through them---from clearing your LP's name to the filing of your certificate. It's also a good idea to create a limited partnership agreement, which spells out details of the partnership.