Limited liability limited partnership (LLLP)

Limited liability limited partnership (LLLP),

Definition of Limited liability limited partnership (LLLP):

  1. A partnership agreement in the United States in which neither partner is personally liable for damages caused by the other partner's actions. Generally reserved for accountants, architects, lawyers and other professionals.

Meaning of Limited liability limited partnership (LLLP) & Limited liability limited partnership (LLLP) Definition