A Limited Partnership is a business entity where there are one or more limited partners and at least one general partner. Generally, limited partners will enjoy limited liability but they are not allowed to participate in management. If they do choose to participate in management, they may be personally liable for any actions they perform on behalf of the company. The general partner will remain personally liable for any debts of the company. This business structure allows for increased financing options as the limited partners have a finite amount of risk with their investment.