Business Partnership Contract
Form Limited Partnership Contracts Online with LegalZoom
A limited partnership (LP) is a business structure where two or more partners have a business together, with varying levels of involvement. The two types of partners, both general and limited, are defined in the limited partnership contract, or agreement.
The first type of partner, a general partner, is involved in actually running the business. As such, they take on the financial and legal commitments of the business, but are not personally protected from this liability. Many general partners will form an LLC or corporation in order to protect themselves personally from this liability.
The second type of partner, a limited partner, supplies funds for running the business, but they are not personally involved in the operational aspects of the company. Since limited partners are protected from debts and lawsuits incurred by the business, investors are more inclined to invest in the company. Their only liability is the capital they invest in the limited partnership and they are not involved in the daily operations.
Form a Limited Partnership Contract
As the leading online business formation service, LegalZoom is an excellent service to use when it comes time to form your limited partnership contract. They have made the formation very easy with their 3-step process. Below, you will find a table that compares LegalZoom's three business partnership contract packages.
You start the process by completing an easy online questionnaire where you specify who will be involved in the partnership, as well as any advanced conditions that should be included.
LegalZoom will then completely review the information in your questionnaire to ensure everything is accurate and complete. Then they will create a Certificate of Limited Partnership that they will sign on your behalf. If they are unable to sign it for you due to state requirements, they will return the documents to you for a signature. This paperwork is then filed with the correct state agency.
Once LegalZoom has received the approved paperwork back from the state, they forward it to you with your limited partnership package.
By allowing LegalZoom to handle the formation of your limited partnership for you, you are ensuring that the partnership contract is done with accuracy.
Let LegalZoom relieve you of the hassles of forming a limited partnership.
LegalZoom Limited Partnership Contract Packages Compared
| Business Partnership Contract Packages Include: |  Economy |
Standard |
Express Gold |
| Price (+State Fee) | $149 | $259 | $379 |
| Preliminary Limited Partnership Name Clearance |  |
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| Certificate of Limited Partnership Preparation & Filing | |
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| LegalZoom Peace of Mind Review | |
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| Forms of Consent for New Partners | |
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| Unlimited Customer Support | |
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| LegalZoom's Business Newsletter | |
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| Deluxe Limited Partnership Kit ($100 value) |  |
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| Official Company Seal ($30 value) | |
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| 20 Customized Partnership Certificates | |
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| Membership Transfer Ledger | |
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| Microsoft Office Accounting Express 2008 Download | |
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| Priority Rush Service | |
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| Federal Tax ID (EIN) Application Preparation | $30 | $30 | |
| 40 Essential Business Forms CD | |
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| 2-day FedEx Delivery of Final Package | |
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| Prepare Application & Obtain Federal Tax ID (EIN) | $79 | $79 | $49 |
| 1 Year Registered Agent | $149 | $149 | $149 |