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What About Silent Partners?: An Overview of Limited Partnerships

Summary

We continue our look at business organizations structures that you could potentially utilize when setting up your farm, with a focus on limited partnerships. Remember from our previous partnership discussion (http://www.aglaw.umd.edu/blog/lets-partner-up-general-partnership-overview), a partnership is a separate legal entity created by two or more individuals (“partners”) who each contribute capital, equipment, and skills and share in profits and losses. Partnerships come in two forms: 1) general partnership and 2) limited partnership. Today we focus on the other form of partnerships, limited partnerships.