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What is a base?
Limited Partnership
A business structure where at least one partner has unlimited liability and at least one partner has liability only up to the amount they have invested.
Fiduciary Duty
A legal obligation of one party to act in the best interest of another party, such as the duty a trustee has to beneficiaries.
Liability
Refers to the state of being legally responsible for something, such as a debt or obligation.
Agent
An individual or entity authorized to act on behalf of another, typically in a business or legal capacity, entering into agreements or making decisions.
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