What does LLLP mean in General Business?
This page is about the meanings of the acronym/abbreviation/shorthand LLLP in the Business field in general and in the General Business terminology in particular.
Limited Liability Limited Partnership
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Definition
What does LLLP mean?
- Limited liability limited partnership
- The limited liability limited partnership (LLLP) is a relatively new modification of the limited partnership. The LLLP form of business entity is recognized under United States commercial law. An LLLP is a limited partnership, and it consists of one or more general partners who are liable for the obligations of the entity, as well as or more protected-liability limited partners. Typically, general partners manage the LLLP, while the limited partners' interest is purely financial. Thus, the most common use of limited partnership is for purposes of investment.
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"LLLP." Abbreviations.com. STANDS4 LLC, 2024. Web. 26 Apr. 2024. <https://www.abbreviations.com/term/57649>.
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