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.


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

To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
Modern Language Association (MLA):
Limited Partnership. Payroll & Accounting Heaven Ltd. April 07, 2020
Chicago Manual of Style (CMS):
Limited Partnership. Payroll & Accounting Heaven Ltd. (accessed: April 07, 2020).
American Psychological Association (APA):
Limited Partnership. Retrieved April 07, 2020, from website:

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