Limited Partnership

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Related to Limited Partnership: Master limited partnership

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 ?
The units of limited partnership interest of the limited partnerships are not publicly traded and there is no established public trading market for the units of the limited partnerships.
Of course, the directors can be made up of the same people (or some of them) who are limited partners, thereby placing some control over the limited partnership business back into the hands of the limited partners; but, as you can see, things begin to get complicated, especially where issues of limited liability arise.
The entire activity generally is treated as a limited partnership interest if this election is made and at least one interest in rental real estate is held as a limited partner, unless the de minimis exception in Regs.
In any jurisdiction in which the securities laws or blue sky laws require the tender offers and consent solicitations to be made by a licensed broker or dealer, the tender offers and consent solicitations will be deemed to be made on behalf of EOP Operating Limited Partnership by the Dealer Managers (who are also the Solicitation Agents), or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.
Alerian Capital Management, LLC, a registered investment advisor that manages portfolios exclusively focused on energy master limited partnerships in both the private and public equity markets.
When contributed assets are disposed of, the donor has already transferred some or all of the partnership interest received in exchange for the appreciated securities through the annual gifting of limited partnership interests to family members.
The EITF observed that SOP 78-9 generally required use of the equity method of accounting for limited partnership investments unless the limited partner's interest was so minor that the partner had virtually no influence over partnership operating and financial policies.
As previously announced, EOP Operating Limited Partnership has already received the requisite consents sought with respect to each series of Notes under the 1995 Indenture.
84-52 considered only situations in which a partnership is converted from a general to a limited partnership, and vice versa.
9% of the outstanding limited partnership interests in Consolidated Capital Growth Fund, approximately 21.
One currently popular vehicle is the family limited partnership (FLP).

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