Limited Partnership

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Related to Limited partnerships: Master Limited Partnerships

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 proposed regulations provide that if an election is made to aggregate all rental real estate interests, and if any of those interests are limited partnership interests, the taxpayer can demonstrate material participation with respect to the one large activity only by using one of the three material participation tests available to limited partners.
Comparison of the limited partnership units' features to the features of securities included in published studies on marketability and minority discounts.
While many other estate planning techniques still remain available to reduce or eliminate these client concerns, it appears that the family limited partnership may be the optimal estate planning vehicle to be used in these situations.
11, 1998--Investors who receive offers -- known as "mini-tenders" -- to purchase their limited partnership or untraded REIT securities need to be aware that such offers are not registered with the Securities and Exchange Commission and therefore avoid the usual disclosure and other securities law requirements, the Investment Program Association (IPA) warned today.
Venture Partners has raised approximately $650 million in various limited partnerships, including approximately $190 million in 1996, and is one of the largest and most active venture capital investment firms in the country.
Biskind added that, "The newly formed limited partnership, DDRC Great Northern Limited Partnership will have the opportunity to update the tenant mix and the center itself.
The Silver Energy Limited Partnership contains approximately $505,000 cash and owns certain land in the Silverdale area of Saskatchewan and the Kaybob Limited Partnership contains approximately $255,000 cash and the right to earn an interest on certain lands in the Kaybob area of Alberta.
Around 30,000 firms registered as Scottish limited partnerships will be forced to reveal their owners identities under laws.
According to the Tax Court, making such an inquiry would improperly blur the distinction between the special rule for limited partnerships and the general rules for material participation in a manner that was "at odds with the statutory framework and legislative intent.
tax law, limited partnerships and LLCs are considered to be partnerships and can elect to be treated as corporations for tax purposes.
In the 1980's, fast-buck syndicators pushing fee-driven and ill-conceived tax shelters gave limited partnerships a bad name in the public consciousness.
In this case, the innovation was the widespread adoption of the limited partnership.

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