A limited liability partnership (LLP) limits the scope of exposure that general partners must face due to partnership debts, liabilities and malpractice. Texas enacted the first ever LLP law in 1991.

A limited partnership is a distinctly different business form than a general partnership. Limited partners have no voice in how the business is managed. The management of a limited partnership ...

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The use of the limited liability company (LLC) has mushroomed in popularity over the past two decades. IRS statistics show a 66% increase in domestic LLCs between 2005 and 2014, and in 2004 LLCs were ...