By making a partnership a limited partnership,the partners have the following advantage of a corporation form of business

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By becoming a limited partnership, the partners can enjoy limited liability, which is a key advantage of a corporation form of business. This means that the partners' personal assets are protected from the debts and liabilities of the business. However, a limited partnership does not offer perpetual life or the ability to sell stock to the public for additional financing, and the total taxes may not necessarily be lower than other forms of business.

By Making a Partnership a Limited Partnership,the Partners Have the Following