LP

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LP

Limited Partnership

A business model in which at least one general partner and at least one limited partner share a business' ownership. In a limited partnership, the general partner does not usually make invest any capital, but has management authority and unlimited liability. That is, the general partner runs the business and, in the event of bankruptcy, is responsible for all debts not paid or discharged. The limited partners have no management authority and confine their participation to their capital investment. That is, limited partners invest a certain amount of money and have nothing else to do with the business. However, their liability is limited to the amount of the investment. In the worst case scenario for a limited partner, he/she loses what he/she invested. Profits are divided between general and limited partners according to an arrangement formed at the creation of the partnership.
References in periodicals archive ?
Mardirian's love for music is hard to miss, let alone his love for vinyl records.
Now they can move their old vinyl records forward into the digital age.
Greg Sutherland, a buyer for Eugene's longest-running retail music shop, said vinyl records now make up at least a third of the House of Records inventory and account for between 20 percent and 25 percent of sales.
Paolo's own obsession with vinyl records prompted his 75-minute film, Vinylmania : When Life Runs at 33 RPMs.
The company started pressing vinyl records for Philadelphia R&B bands in the late 1940s.
With the accompanying artwork and liner notes, vinyl records really can be a work of art and a collector's delight.
Back in the 1970s and early '80s, when musicians wanted to put out their own vinyl record, they had to order the various components (such as lacquer masters, stampers, labels, and record jackets) from as many as seven different manufacturers and get them all shipped to the pressing plant.
It's called Aintree Vinyl Records and is situated on Warbreck Moor, just before Aintree Racecourse.
What some vinyl record companies are doing is offering a free MP3 download of the album or track with the vinyl so you get both.
A mixture of 50 obscure and well-known vinyl record sleeves from 2009 were shortlisted for the prize.
2) Jon Tyburski, manager of Newbury Comics in Shrewsbury, stacks new USB turntables that digitize vinyl record tracks and archive tracks into MP3 compressed format files.