Limited Partnership

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Limited partnership

A form of ownership in which partners are divided into two classes; the general partners who actively manage the operations and bear full responsibility; and the limited partners, whose exposure is normally limited in amount of obligation and have no control over the affairs of the partnership.

Limited Partnership

 

in bourgeois civil law, a type of commercial or industrial company. The partners in such a company are divided into two categories: those whose liability for the company’s debts is limited to the amount they have invested, and those who are totally liable. Limited partnerships are most common in Great Britain, where the law does not give such partnerships the rights of a legal person. This type of British company is very similar to the commandite in France, the Federal Republic of Germany, and Italy.

References in periodicals archive ?
Founded in 1965, Greylock Limited Partnerships is a private venture capital partnership that has sponsored over 100 early stage, high technology companies which have gone on to be publicly traded.
As part of the acquisition of the Limited Partnership, the shareholders of the corporation at the Dec.
Insignia is a fully integrated real estate service organization performing property management, commercial and retail leasing, investor services, partnership administration, mortgage banking, and real estate investment banking services for various ownership entities including approximately 600 limited partnerships having approximately 300,000 limited partners.
Limited partnerships formed with a corporate general partner face minimum net worth and profits allocation requirements for advanced rulings.
Thus, if a limited partnership converts to an LLC, all business income allocated to general partners also having limited partnership interests will be subject to SE tax; this is a costly disadvantage for partners who before the conversion could exclude their limited partnership share of income from SE tax.
A family limited partnership has several advantages over other asset protection tools.
Limited ("SCL"), the promoter of Stone 2003 Flow-Through Limited Partnership ("Partnership") CUSIP#86175R108, announced that the Partnership completed the transfer and sale (the "Rollover Transaction") of all of the property and assets (excluding cash) of the Partnership on a tax-deferred basis to Stone & Co.
Family limited partnerships continue to be useful in accomplishing various tax and nontax objectives.
21 /PRNewswire/ -- Prudential Securities said today that it has reached a global settlement with the Securities and Exchange Commission, the National Association of Securities Dealers and regulators of 51 states to resolve issues concerning the sale of limited partnerships to investors in the 1980s.
Goodman & Company, including Dynamic Mutual Funds and its affiliates, offers a wide range of wealth management solutions through registered financial advisors, including mutual funds, fee-based programs (Viscount and Marquis), limited partnerships (CMP and Canada Dominion), a labour-sponsored fund, hedge funds and a high net-worth investment counsel (Goodman Private Wealth Management).
469(c)(7) now provide guidance for making the election to treat all rental real estate interests as one activity, and for how this relief measure applies to rental real estate interests held through limited partnerships.
Regulators contend that Prudential sold such investments to many unsuitable investors and failed to disclose the risks inherent in limited partnerships to many other customers who purchased the investments.

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