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  2. Limited liability partnership - Wikipedia

    en.wikipedia.org/wiki/Limited_liability_partnership

    Limited liability partnerships are distinct from limited partnerships in some countries, which may allow all LLP partners to have limited liability, while a limited partnership may require at least one unlimited partner and allow others to assume the role of a passive and limited liability investor. As a result, in these countries, the LLP is ...

  3. Partnership - Wikipedia

    en.wikipedia.org/wiki/Partnership

    3) Unlimited Liability. The major disadvantage of partnership is the unlimited liability of partners for the debts and liabilities of the firm. Any partner can bind the firm and the firm is liable for all liabilities incurred by any firm on behalf of the firm.

  4. List of legal entity types by country - Wikipedia

    en.wikipedia.org/wiki/List_of_legal_entity_types...

    requires one general partner with unlimited liability and one or more members with limited liability kkt. (közkereseti társaság) general partnership: all members have unlimited liability kft. (korlátolt felelősségű társaság) private limited company: company without stocks, the most common company type in Hungary [51] kht. (közhasznú ...

  5. Limited partnership - Wikipedia

    en.wikipedia.org/wiki/Limited_partnership

    A limited partnership (LP) is a type of partnership with general partners who have a right to manage the business and limited partners who have no right to manage the business but have only limited liability for its debts. [1] Limited partnerships are distinct from limited liability partnerships, in which all partners have limited liability.

  6. Limited liability - Wikipedia

    en.wikipedia.org/wiki/Limited_liability

    [3] The same is true for the members of a limited liability partnership and the limited partners in a limited partnership. [4] By contrast, sole proprietors and partners in general partnerships are each liable for all the debts of the business (unlimited liability).

  7. General partner - Wikipedia

    en.wikipedia.org/wiki/General_partner

    They are made up of general partners, whom have unlimited liability, like in the United States, meaning general partners are fully responsible for any and all business debts and claims. This was founded under Civil Code Act No. 89 of 1896, in which it describes general partnerships as an engagement between partners who decide to jointly run a ...

  8. Limited liability limited partnership - Wikipedia

    en.wikipedia.org/wiki/Limited_liability_limited...

    The limited liability limited partnership (LLLP) is a relatively new modification of the limited partnership. The LLLP form of business entity is recognized under United States commercial law . An LLLP is a limited partnership , and it consists of one or more general partners who are liable for the obligations of the entity, as well as or more ...

  9. Limited liability company - Wikipedia

    en.wikipedia.org/wiki/Limited_liability_company

    A limited liability company with multiple members that elects to be taxed as partnership may specially allocate the members' distributive share of income, gain, loss, deduction, or credit via the company operating agreement on a basis other than the ownership percentage of each member.

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