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This question is about careers.
What does LP stand for in business?
In business, LP stands for Limited Partnership. This is a business structure that is a mixture of a general partnership and a corporation, in which limited liability protection is maintained for certain partners.
Limited partnerships consist of two or more partners. In these partnerships, at least one partner must exist as a general partner that has unlimited liability, which comes into play with issues such as debt.
While the limited partners only have liability up to the sum of their investment, in other words limited liability. Limited partnerships are known as "pass-through" entities that offer minimal to no reporting obligations.
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