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 ?
A modern-day Bletchley Park, where the German Enigma code was cracked during the Second World War, is being set up to aid Government listening post GCHQ.
Meanwhile, police continued to question three different suspects yesterday after they were seen acting suspiciously near the GCHQ listening post in Cheltenham, Glos, on Saturday.
Pat Williamson is chairman of Go Out And Live (Goal), the Wood End-based voluntary group which organised the Listening Post conference at Henley College.
Harry's British recruiter, a sinister fellow named Andrew Osnard, who bears more than a passing resemblance to Roper, the cynical arms dealer in ``The Night Manager,'' uses both the carrot and the stick to get Harry to sign on as a Panamanian listening post.
Visitors to the site can search for songs about their home town or an event in history, hear some Northumbrian tunes at the Listening Post or log on to the Learn section for background information.
MI6, MI5 and the GCHQ listening post will spend the lion's share of the money on the war against terrorism.
When he was ordered over the top to run to a listening post, minutes after an explosion had occurred feet away from him, he refused.
The Listening Post event has been organised by Go Out And Live, a Wood End-based voluntary group, with support from the area co-ordination team and the council's social justice department.
Dougie picked up the signals at a listening post on a remote headland near Wick, Caithness, and passed the information on to war-time intelligence headquarters at Bletchley Park in Buckinghamshire.
The Listening Post event has been organised by Go Out And Live, a voluntary group based in Wood End, with support from the area co-ordination team and the council's social justice department.
It used to be a listening post to eavesdrop on Eastern Bloc radio signals.