An Existing Limited Partnership Cannot Be Converted to a Limited

question 40

True/False

An existing limited partnership cannot be converted to a limited liability limited partnership.

---

Definitions:

Patent

A legal right granted to an inventor or assignee to exclude others from making, using, or selling an invention for a certain number of years.

Copyright

A legal right granted to an author, composer, playwright, publisher, or distributor to exclusive publication, production, sale, or distribution of their original work.

Trademark

A recognizable symbol, design, or expression that uniquely identifies and legally protects the brand or product of a particular source from being used by others.

Capital Expenditure

Funds used by a company to acquire, upgrade, and maintain physical assets such as property, industrial buildings, or equipment.