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The limited liability limited partnership (LLLP) is a relatively new modification of the limited partnership. The LLLP form of business entity is recognized under United States commercial law . An LLLP is a limited partnership , and it consists of one or more general partners who are liable for the obligations of the entity, as well as or more ...
The Puerto Rico Public–Private Partnerships Authority (P3A) (Spanish: Autoridad para las Alianzas Público Privadas de Puerto Rico (APPP)) is a government-owned corporation of Puerto Rico created in order to regulate public–private partnerships (PPP) in Puerto Rico. [1]
Public–private partnerships (PPP or P3) are cooperative arrangements between two or more public and private sectors, typically of a long-term nature. [1] In the United States, they mostly took the form of toll roads concessions, community post offices and urban renewal projects. [2]
As with a general partnership, "an act of a general partner which is not apparently for carrying on in the ordinary course the limited partnership's activities or activities of the kind carried on by the limited partnership binds the limited partnership only if the act was actually authorized by all the other partners." [2]
The liability of limited partners is limited to their investment in the partnership. This form of partnership was developed in the 19th century, the U.K. where it was imparted by charter, [19] and in the U.S. where it was created by statute. [18] [19] More recently, additional forms of partnership have been recognized:
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