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InvestHub.com's
Finance Dictionary and Glossary of Investment Terms

Limited partnership  

Definition 1.

A partnership that includes one or more partners who have limited liability.
 

Definition 2.

A business organization with one or more general partners, who manage the business and assume legal debts and obligations, and one or more limited partners, who are liable only to the extent of their investments. Limited partners also enjoy rights to the partnership's cash flow, but are not liable for company obligations.
 
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