Limited Liability Limited Partnership (LLLP) Definition A Limited Liability Limited Partnership or LLLP is a form of business that contains a group of general and limited partners. Generally, the general partners have a managerial interest in running the business; whereas the limited partners have solely a financial interest, or what they invested in the company.
See Also: S Corporation Limited Liability Limited Partnership (LLLP) Cooperative (co-op) Limited Liability Company (LLC) Sole Proprietorship S Corporation vs C Corporation Conglomerate Definition C Corporation Definition The C Corporation definition (C-corp) is a form of business which is owned by several C-corp shareholders or holders of stock within the company. Many larger businesses adopt
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