Public Limited Partnership

real estate, oil and gas, equipment leasing, or other limited partnership that is registered with the Securities and Exchange Commission and offered to the public through registered broker/dealers. Such partnerships may be oriented to producing income or capital gains, or, within passive income rules, to generating tax advantages for limited partners. The number of investors in such a partnership is limited only by the sponsor’s desire to cap the funds raised. A public limited partnership, which does not have an active secondary market, is distinguished from a private limited partnership, which is limited to 35 limited partners plus accredited investors, and a master limited partnership (MLP) that is publicly traded, often on the major stock exchanges.

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