Limited Liability Limited Partnership

The video discusses a special entity type that exists in a few states, allowing for the formation of a limited liability partnership. This structure includes limited partners who receive protection from personal liability while maintaining the partnership's ease of use. The entity setup is complex, providing additional protection layers and ensuring limited partners, typically investors, do not engage in decision-making. This structure is common in real estate investments, where outside investors require limited partnership status within a limited liability partnership.

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