A limited partnership is an entity created by Congress that will have two levels of participation. There will be the a "General Partner" who has absolute control and runs the partnership on behalf of all the partners and there are the "Limited Partners" which under normal circumstances are purely investors that became interested in the goals of the partnership, typically for profit purposes. It is typically the limited partners that put up the funds for the partnership although it is always better when the general partner has some money at risk. At the termination of the partnership, the goal is to repay all of the limited partners for any remaining investment they have not received and hopefully then distribute profits between the general partner and the limited partners on some prearranged determination. Hope this helps and good luck
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