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what forms of funding is needed to form a Limited partnership?

Definition Definition Arrangement between two or more people whereby they agree to manage business operations and share its profits and losses in an agreed ratio. The agreement drafted and signed by the partners of the firm is termed as a partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, and drawings of a partner.

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Step 1: Define limited partnership

A limited partnership (LP) is a type of business structure that has two types of partners: general partners and limited partners. The general partners of an LP are in charge of managing the day-to-day operations of the business and have unlimited personal liability for the partnership's debts and obligations. Limited partners, on the other hand, are passive investors who contribute cash to the partnership but have a limited role in management and liability limited to the amount invested.

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