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LLLP vs LLP: Key Differences and Uses - UpCounsel Learn the key differences in LLLP vs LLP structures, liability protection, state recognition, and business uses to choose the right partnership for your needs
What Is an LLLP (Limited Liability Limited Partnership)? Below, we’ll discuss the definition of an LLLP, its advantages and disadvantages, how to form one and also explain some key differences between other business entities
What Is a Limited Liability Limited Partnership (LLLP)? An LLLP differs from a traditional Limited Partnership (LP) primarily in the liability protection offered to general partners In an LP, general partners typically bear unlimited personal liability, while in an LLLP, they also receive limited liability
LLPs and LLLPs: Liability, Formation, Taxes - UpCounsel Compare LLPs and LLLPs on liability, formation, and taxes Learn when each fits, state rules, malpractice shields, and how they differ from LPs and LLCs 19 min read updated on September 08, 2025
LP vs. LLP: What’s the Difference? - LegalZoom Understand the differences between a limited partnership (LP) and a limited liability partnership (LLP), and learn how to form one, with this helpful guide