https://spec.edmcouncil.org/fibo/ontology/BE/Partnerships/Partnerships/LimitedLiabilityPartnership
partnership that has general partners but provides its individual partners some level of protection against personal liability for certain partnership liabilities
Instances of fibo-be-ptr-ptr:LimitedLiabilityPartnership can have the following properties:
| PROPERTY | TYPE | DESCRIPTION | RANGE |
|---|
@prefix cmns-av: <https://www.omg.org/spec/Commons/AnnotationVocabulary/> .
@prefix fibo-be-ptr-ptr: <https://spec.edmcouncil.org/fibo/ontology/BE/Partnerships/Partnerships/> .
@prefix owl: <http://www.w3.org/2002/07/owl#> .
@prefix rdfs: <http://www.w3.org/2000/01/rdf-schema#> .
@prefix skos: <http://www.w3.org/2004/02/skos/core#> .
fibo-be-ptr-ptr:LimitedLiabilityPartnership a owl:Class ;
rdfs:label "limited liability partnership" ;
rdfs:isDefinedBy fibo-be-ptr-ptr: ;
rdfs:subClassOf [ a owl:Restriction ;
owl:onProperty fibo-be-ptr-ptr:hasGeneralPartner ;
owl:someValuesFrom fibo-be-ptr-ptr:GeneralPartner ],
fibo-be-ptr-ptr:Partnership ;
owl:disjointWith fibo-be-ptr-ptr:LimitedPartnership ;
skos:definition "partnership that has general partners but provides its individual partners some level of protection against personal liability for certain partnership liabilities" ;
skos:example "Law firms, accountancies, wealth managers, professional medical groups, and other professional consultancies often take the form of a limited liability partnership.",
"One example of a limited liability partnership is that of an incorporated limited partnership (ILP) in Australia." ;
cmns-av:abbreviation "LLP" ;
cmns-av:explanatoryNote "LLPs are a flexible legal and tax entity that allows partners to benefit from economies of scale by working together while also reducing their liability for the actions of other partners." .