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Limited Partner
An investor in a partnership who has limited liability to the extent of their investment in the partnership and does not participate in daily business operations.
Dissolve
The process of formally closing or ending a legal entity, such as a corporation or partnership, and distributing its assets.
Partnership
A legal form of business operation between two or more individuals who share management and profits or losses.
Operating Agreement
An operating agreement is a legal document outlining the governance and business operations of an LLC (Limited Liability Company).
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