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Limited Liability Partnership
A partnership where some or all partners have limited liabilities, protecting them from the debts of the partnership beyond their investment.
Negligently
Acting with a lack of care or concern for the consequences of one's actions that a reasonable person would have shown.
Liability
Legal responsibility for one's actions or omissions, which can result in an obligation to compensate any harm caused to others.
Limited Partner
An investor in a partnership who is not involved in the day-to-day operations and whose liability is limited to the amount invested in the business.
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