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Businesses > Starting a business > Types of businesses > Partnerships > Limited partnerships

Limited partnerships

A limited partnership comprises one or more general partners and one or more limited partners.

  • The general partners contribute their work, experience and expertise. They are the only persons authorized to administer and represent the partnership, and their liability for the debts and obligations of the partnership is unlimited.
  • The limited partners provide capital or assets, and are not liable for the partnership's debts beyond their capital contribution.
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