L.L.P.

Definition of "L.L.P."
  1. Limited liability partnership: a type of business partnership where all partners are granted limited liability
How to use "L.L.P." in a sentence
  1. After exploring several options, we decided to structure our business as an L.L.P.
  2. As an L.L.P., each partner enjoys the protection of limited liability for the debts of the partnership.
  3. The primary difference between an L.L.P. and a traditional partnership is the limited liability provision.
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