A limited partnership (LP) is a business structure where at least two partners own the company, but only one of them manages the business. The general partner has full liability for the business ...

LLP stands for limited liability partnership. As the name suggests ... In either case, the LLP must be defined by an operating agreement, she says. Difference Between an LLP and LLC An LLC ...

When drafting a partnership agreement, an expulsion clause should be included, detailing what events are grounds for expelling a partner. Limited Liability Partnership Limited liability ...