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Limited Liability Partnerships (“LLP”) A limited liability partnership (“LLP”) is very similar to a general partnership.  The biggest difference is that “innocent” partners have some protection from the unknown negligence or misconduct of other partners.  Limited liability partnerships are governed by the Partnership Act, in Nova Scotia. As in a general partnership, all partners in

The Limited Partnership (“LP”) Introduction:  Previous articles discussed characteristics of sole proprietorship and general partnership.  This article will discuss the limited partnership business structure. Limited partnerships can carry on any business that a general partnership may, and offers limited liability to some partners, known as the “limited partners”.  For this reason, this business structure is

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