limited partnership
Ordinary partnership is a business entity run by partners. Partners have unlimited liability. The partners share the profits or losses of the business according to the ratio they had agreed upon. The maximum number of partners are 20. But under limited partnership the partners do not have personal liability. They do not share in the debt of the business. This type of partnership is found in large projects. However in return for his personal liability protection, he cannot play an active role in the management.
General partners have unlimited liability. Limited partners are only on the hook for their investment in the business or the unpaid part of the investment.
It extends to all general partners, but not to limited partners.
limited partnership has two partners with different liability;general partners and limited partners.
A special form of partnership, called a Limited Liability Partnership, can be utilized. under this arrangement, one or more partners are designated general partners and have unlimited liability for the debts of the firm; other partners are designated limited partners and are liable only for their initial contribution.
If the partnership is a general partnership, all partners assume unlimited liability. However, if the partnership is a limited partnership, one or more of the partners assumes unlimited liability
General partners
If the partnership is a general partnership, all partners assume unlimited liability. However, if the partnership is a limited partnership, one or more of the partners assumes unlimited liability
The main difference between limited liability partnership and general partnerships is limited liability. Partners of an general partnerships are liable for all debts accumulated. Partners of an limited liability partnership are enjoying limited personal liability protection. However many people may prefer to incorporate Limited Liability Company instead of an limited liability partnership.
limited liability partnership
The symbol for Artisan Partners Asset Management Inc. in the NYSE is: APAM.
Artisan Partners Asset Management Inc. (APAM)had its IPO in 2013.