at least one general partner is in a limited partnership.
at least one general partner is in a limited partnership.
how many general partners in a limited partnership?
at least one
limited partnership









































a limited partnership (lp) is a form of partnership similar to a general partnership except that while a general partnership must have at least two general partners (gps), a limited partnership must have at least one gp and at least one limited partner.









































the gps are, in all major respects, in the same legal position as partners in a conventional firm: they have management control, share the right to use partnership property, share the profits of the firm in predefined proportions, and have joint and several liability for the debts of the partnership.
limited partnership
the limited liability limited partnership (lllp) is a relatively new modification of the limited partnership, a form of business entity recognized under united states commercial law. an lllp is a limited partnership and as such consists of one or more general partners and one or more limited partners. typically, while the general partners manage the lllp, the limited partners' interest is purely financial. thus, the most common use of a limited partnership is for purposes of investment, often through a number of private equity firms. despite their lack of control over day to day operations, the limited partners may nonetheless own substantially all of the equity in the partnership.
limited liability limited partnership