Definition of "FLP"
  1. Family limited partnership: a form of business organization where family members join together as partners
How to use "FLP" in a sentence
  1. The Smiths formed an FLP to manage their family business effectively.
  2. By establishing an FLP, the Johnsons hoped to protect their family's assets.
  3. The advantage of creating an FLP is improved control over the family's wealth.

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