Form a Limited Partnership Agreement
Form Business Partnership Agreements Online with LegalZoom
A business entity where two or more partners operate and/or manage a business together is called a limited partnership (LP). The limited partnership agreement form specifies the two kinds of partners - general partners and limited partners.
General partners control the daily operation of the business and take on the legal and financial obligations of the company. Because they are legally liable and not protected through the limited partnership, general partners will usually form an LLC or corporation to protect themselves from liability.
Limited partners supply capital for the operation of the business, but are not involved in running the business. They are shielded from lawsuits and debts incurred by the company, which makes it very attractive for investors to become limited partners because their only liability is the money they invest in the company and they do not have to deal with running the business.
Form a Limited Partnership Agreement
LegalZoom is the leading online business formation service and a great place to form a limited partnership agreement. Their easy, 3-step process makes forming your business partnership agreement an easy and quick process. The table below compares the three limited partnership packages LegalZoom offers.
The first step has you filling out a simple online questionnaire which allows you to describe who the partners are and any advanced provisions you want.
The second step has LegalZoom reviewing the information you provide for completeness and accuracy and then they create a Certificate of Limited Partnership. If they are not able to sign this on your behalf, they must send it to you for a signature. Once signed, it is filed with the appropriate government agency.
Step three is the wrap-up of your order. Once LegalZoom receives the limited partnership paperwork back from the state, they send it to you with any other legal documents you requested them to process.
Limited partnerships are becoming more popular with business owners for the flexibility they offer. Form your limited partnership agreement today with LegalZoom and let them do the hard work for you!
LegalZoom Limited Partnership Agreement Packages Compared
| Business Partnership Agreement 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 |
