Delaware Limited Partnership Definition
Delaware Limited Partnership
DEFINITION
DEFINITION
A Delaware Limited Partnership Definition is a business with two or more owners; two
classes of
owners; general
partners and
limited partners. General
partner(s) may
dissolve their
discretion, limited
partners do not have this option.
General partners
generally run
business, as
specified in
partnership
agreement. General
parner(s) are
fully liable for all
business debts,
limited partners
only liable to
extent of capital
invested.
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