Limited partnership

A limited partnership is a financial affiliation that includes at least one general partner and a number of limited partners. The partnership invests in a venture, such as real estate development or oil exploration, for financial gain.

The arrangement can be public, which means you can buy into the partnership through a brokerage firm, or private.

What makes it a limited partnership is that everyone but the general partners has limited liability. The most the limited partners can lose is the amount they invest.

One in which there is at least one partner whose liability is limited to the amount invested, and at least one partner whose liability extends beyond monetary investment.