Limited partnership: Difference between revisions
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A limited liability company (SL) or a limited liability partnership (LLC) is a commercial company with the status of a legal entity, the capital of which is divided into equal, cumulative and undivided shares. Its partners are not personally liable for the company's debts, but only for the amount of the capital contribution. It is widely used by small self-employed entrepreneurs who thus limit their liability to the capital contributed, avoiding being liable for the debts of their business with their personal assets. According to information provided by Santander Bank. | A limited liability company (SL) or a limited liability partnership (LLC) is a commercial company with the status of a legal entity, the capital of which is divided into equal, cumulative and undivided shares. Its partners are not personally liable for the company's debts, but only for the amount of the capital contribution. It is widely used by small self-employed entrepreneurs who thus limit their liability to the capital contributed, avoiding being liable for the debts of their business with their personal assets. According to information provided by Santander Bank. | ||
==Characteristics of the limited partnership== | ==Characteristics of the limited partnership== | ||
The rules of limited liability companies determine their characteristics, the most relevant of which are as follows: | |||
==Advantages of the limited partnership== | ==Advantages of the limited partnership== | ||
Revision as of 13:17, 20 November 2022
A limited liability company (SL) or a limited liability partnership (LLC) is a commercial company with the status of a legal entity, the capital of which is divided into equal, cumulative and undivided shares. Its partners are not personally liable for the company's debts, but only for the amount of the capital contribution. It is widely used by small self-employed entrepreneurs who thus limit their liability to the capital contributed, avoiding being liable for the debts of their business with their personal assets. According to information provided by Santander Bank.
Characteristics of the limited partnership
The rules of limited liability companies determine their characteristics, the most relevant of which are as follows:
Advantages of the limited partnership
Disadvantages of the limited partnership
Footnotes
References
- Mancuso, A. (2022). Your Limited Liability Company: An Operating Manual. Google Books.
- Mancuso, A. (2021). Nolo's Quick LLC: All You Need to Know About Limited Liability Companies. Google Books.
- Stooker, R. (2010). Master Limited Partnerships. Google Books.
Author: Mónica Guijarro,Gabriela Valera,Zaira Bancells
