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limited partnership

   Also found in: Legal, Financial, Acronyms, Wikipedia 0.03 sec.
limited partnership
n.
A partnership in which some of the partners have a limited liability to the firm's creditors.


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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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