Partnership, limited
Invezz is an independent platform with the goal of helping users achieve financial freedom. In order to fund our work, we partner with advertisers who compensate us for users that Invezz refers to their services. While our reviews and assessments of each product on the site are independent and unbiased, brands may pay to appear higher up our table rankings or place ads in specific areas of the site. The order in which products and services appear on Invezz does not represent an endorsement from us, and please be aware that there may be other platforms available to you than the products and services that appear on our website. Read more about how we make money >
A partnership governed by the Limited Partnership Act 1907. Intended originally as an alternative to a limited company, it is similar to an ordinary partnership except that certain partners have a limited liability. The liability is limited to the amount the limited partner contributes on becoming a partner. He can not dispose of his share or withdraw it, take part in the general management of the business or bind the firm. He cannot dissolve the partnership or object to the introduction of another partner. The limitation of his actions is obviously a considerable price to pay for the limitation of liability. The general partners have the last word in just about everything. There must be at least one general partner with unlimited liability. A limited partnership must be registered with the Registrar of Companies and the registration must be accompanied by certain particulars. These are (1) the firm’s name, (2) the general nature of the business, (3) the principal place of business, (4) the full names of the partners, (5) the term of the partnership, (6) the date of commencement, (7) a statement that the partnership is limited, which also names the limited partners, (8) the amount paid in by each limited partner, and the manner of payment (cash or otherwise).
Reference: The Penguin Business Dictionary , 3rd edt.
More definitions
Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >