Limited partnership | Practical Law

Limited partnership | Practical Law

Limited partnership

Limited partnership

Practical Law UK Glossary 0-107-6763 (Approx. 4 pages)

Glossary

Limited partnership

A partnership registered in accordance with the Limited Partnerships Act 1907. An English limited partnership must be formed between two or more persons and must carry on a business in common with a view of profit. Unlike a general partnership, a limited partnership has two categories of partner: one or more general partners who manage the business of the partnership and one or more limited partners who do not participate in the management of the partnership and who have limited liability.