Limited Partnership (LP)

Law Office of David M. Goldman PLLC represents individuals and Florida Businesses in Jacksonville and the surrounding areas in Florida Business law and Florida Business Formation. Our Florida Business Attorneys and Florida Business Lawyers work with clients in to help them choose the correct entity to use when conducting business.

A Florida Limited Partnership is a business entity with two or more owners. In addition, there are two types of partners. The partners are separated in to Limited Partners and General Partners. There must be at least one of each. The general partners are personally liable for all the debts and liabilities of the partnership. Unlike the Florida Sole Proprietorship or the Florida General Partnership, the general partners of a Florida Limited Partnership are liable for the debts of the company. To be eligible for limited partnership status, the partner cannot participate in the active management of the partnership. Limited partners must be carful to participate in the control of the business or the shield against liability may be "pierced" and the partner may loose their personal protection. This business entity requires a certificate of limited partnership to be file with the state of Florida.

If you need help with starting or managing a Florida Business CONTACT our Florida Business Lawyers by email or call us at 904-685-1200 to discuss your situation today.