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Limited Liability Partnership PDF Form

Limited Liability Partnership PDF Form

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okay the limited liability partnership is a specialty entity form uh that is very similar to a limited liability company but instead of having the membership structure as a limited liability company has the limited liability partnership or lop maintains a partnership structure that is partners undertake business together or carry on a commercial activity together but each partner is given limited personal liability or personal liability protection and the reason for this is uh there's generally a requirement that each practitioner maintain a level of malpractice or personal uh liability insurance to cover the event that uh they undertake some activity that causes liability and generally the members of the limited partnership have to be professionals in a given field medicine law accounting in some cases architecture or engineering can organize as limited liability partnerships because in these cases the limited the limited liability partners are professional service providers and if th

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