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limited partnership

   Also found in: Dictionary/thesaurus, Legal, Wikipedia 0.06 sec.
Limited partnership
A partnership that includes one or more partners who have limited liability.

limited partnership
A partnership in which some of the partners have a limited liability to the firm's creditors. Compare general partnership. See also master limited partnership (MLP).
What type of investor should participate in a limited partnership?

The target market for investors who could participate in most limited partnerships is composed of high net worth clients who have tax problems and significant income. An investor who participates in such a partnership should understand that most limited partnerships are illiquid investments having no public market. In addition, the investor must ask himself or herself whether use can be made of the anticipated benefits and whether the high economic risk can be sustained.

George Riles, First Vice President and Resident Manager, Merrill Lynch, Albany, GA

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Although very limited exceptions to this rule exist for entities such as estates and trusts, they do not address whether a limited partnership or a limited liability company (LLC) can be an owner.
The perceived advantage of an LLC over a limited partnership is that, in a limited partnership, the general partner does not receive protection from liabilities.
EOP Operating Limited Partnership indicated that it has received consents and tendered Notes in respect of approximately 96.
 
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