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 ...

LLP stands for limited liability partnership. As the name suggests ... Difference Between an LLP and LLC An LLC is a limited liability corporation. Like an LLP, it is a business entity created ...

The LLC also carries significant tax advantages over the limited partnership. For instance, unless the partner in a limited partnership assumes an active role, his or her losses are considered ...