What do LP and GP stand for? LP stands for limited partnership, while GP stands for general partnership. Both are two types of business entities that involve other partners. Both are created through a partnership agreement. What is an example of a general partnership? Two co-workers decide to...
Limited Partnership is a structure frequently used by professional firms and family businesses. How do you know if it is suitable for your ideal business?
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Additionally, companies that currently or in the past were prohibited from forming an LLC (including accountants and attorneys) may also find the LLP structure appealing. Like GPs, LLPs avoid double taxation. ###GP vs. LP A limited partnership or LP is a type of business partnership that ...
Headquartered in Houston, Texas, PAGP owns an indirect, non-economic controlling general partner interest in PAA and an indirect limited partner interest in PAA, one of the largest energy infrastructure and logistics companies in North America. Plains All American Pipeline LP and Plains GP Holdings ...
Pros and Cons of a Real Estate Limited Partnership The LP structure is advantageous for both the GP and the limited partners for many reasons. Pros for the general partner: They receive equity in exchange for creating and overseeing the real estate deal. ...
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Another key difference is in liability. General partners of an LP have unlimited personal liability, meaning they may be held liable for any debts and obligations of the company. Limited partners are often not liable for partnership obligations. LLCs, on the other hand, often provide corporation-...