Define: Limited Partnership

Business, Legal & Accounting Glossary

Definition: Limited Partnership


Quick Summary of Limited Partnership


A business organization where the individual partners have varying degrees of input and control over decisions, profit-sharing, and risk, usually related to the amount of money each partner has invested.



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Examples of Limited Partnership in a sentence


Unlike a general partnership, a limited partnership may be a good idea for people who have a restricted cash flow, but who still want to participate in a business venture.
After having been in a limited partnership agreement for ten years, Charles was finally able to buy in as a general partner in the firm.



Cite Term


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Page URL
https://payrollheaven.com/define/limited-partnership/
Modern Language Association (MLA):
Limited Partnership. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. April 07, 2020 https://payrollheaven.com/define/limited-partnership/.
Chicago Manual of Style (CMS):
Limited Partnership. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/limited-partnership/ (accessed: April 07, 2020).
American Psychological Association (APA):
Limited Partnership. PayrollHeaven.com. Retrieved April 07, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/limited-partnership/

Definition Sources


Definitions for Limited Partnership are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 15th February, 2020