A limited partner does not have the right to manage the business in any way and still maintain limited status.

Question

Quizplus · Accepted Answer

Limited partners are passive investors who contribute capital to a partnership but do not have the right to manage the business. They maintain limited liability status, meaning they are not personally liable for the partnership's debts and obligations, only up to the amount of their investment. If a limited partner takes part in managing the business, they risk losing their limited status and becoming fully liable for the partnership's debts and obligations.

A Limited Partner Does Not Have the Right to Manage