limited liability partnership

noun

Definition of limited liability partnership

: a partnership in which the partnership is liable as an entity for debts and obligations and the partners are not liable personally

Examples of limited liability partnership in a Sentence

Recent Examples on the Web Mobile Greyhound Racing is a limited liability partnership that is affiliated with the Poarch Band of Creek Indians. Mike Cason | Mcason@al.com, al, "Mobile Greyhound Park settles case involving fatal DUI crash," 19 Oct. 2020

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'limited liability partnership.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

First Known Use of limited liability partnership

1980, in the meaning defined above

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Time Traveler

The first known use of limited liability partnership was in 1980

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Cite this Entry

“Limited liability partnership.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/limited%20liability%20partnership. Accessed 15 Jan. 2021.

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More Definitions for limited liability partnership

limited liability partnership

Legal Definition of limited liability partnership

see partnership

Comments on limited liability partnership

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