Limited Liability Limited Partnership

The video discusses a special entity type that exists in a few states, allowing for the formation of a limited liability partnership. This structure includes limited partners who receive protection from personal liability while maintaining the partnership's ease of use. The entity setup is complex, providing additional protection layers and ensuring limited partners, typically investors, do not engage in decision-making. This structure is common in real estate investments, where outside investors require limited partnership status within a limited liability partnership.

What is a limited liability partnership and how does it differ from a traditional partnership?

How does a limited liability partnership provide protection from personal liability?

What is the significance of maintaining the structure of a partnership in a limited liability partnership?

What are the roles of limited partners in a limited liability partnership?

In what scenarios are limited liability partnerships most commonly used?