Limited Partnership

Limited Partnership

What Is It?

A Delaware limited partnership is a partnership formed under the Delaware Revised Uniform Limited Partnership Act having one or more general partners and one or more limited partners. A Delaware limited partnership may carry on any business that a partnership without limited partners may carry on, except for insurance and banking activities.


In general, a Delaware limited partnership is managed by its general partner(s) and limited partners are passive investors.

Requirements for forming a Delaware Limited Partnership