Limited Partnerships 2017-04-17T11:57:37-04:00

LIMITED PARTNERSHIPS

Have the ability to maintain control and manage decision making.

Limited partnerships are comprised of two types of participants: general partners and limited partners. General partners accept the responsibility for and take all the risks involved in managing and conducting the business. Limited partners on the other hand, are investors who participate in risk, only to the amount they have invested, but who have no participation in the actual management of the entity. Limited partners simply enjoy the profits and share in the losses on the basis of what is stipulated in the partnership agreement. These provisions provide limited liability protection, but they do not allow any privacy for the parties involved.

  • Limited partnerships have the flexibility to govern themselves under either the Uniform Partnership Act, or take advantage of the unique benefits of the Nevada Revised Statutes.
  • A charging order is the sole remedy of the creditor of a partner, preventing foreclosure of the interest.
  • Availability of electing Limited Liability status for general partners to protect them.
  • Professional use of limited partnership is available.

If you would like more information on Nevada Limited Partnerships,
contact us at 1-866-411-2002