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Limited Partner
An investor in a partnership who has limited liability to the extent of their investment and does not take part in day-to-day management.
Participates in Management
Involvement in the decision-making processes and operations of an organization or company.
Liability
The state of being responsible for something, especially by law, including debts or legal obligations.
Limited Liability Partnership
A partnership in which some or all partners have limited liabilities, protecting them from personal responsibility for the debts of the business.
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