New Jersey Certificate of Merger Consolidation LCS Limited Partnerships (NJCMCLPs) and Partnerships (Jumps) are legal entities that are created when two or more business entities merge into a single entity. NJCMCLPs and Jumps are typically formed to achieve economies of scale or to gain access to new markets. The most common types of NJCMCLPs and Jumps are Limited Liability Companies (LCS), Limited Partnerships (LPs), and General Partnerships (GP's). The primary benefit of forming an NJCMCLP or JUMP is the liability protection it provides for the business owners. An LLC offers the most protection, with members being shielded from personal liability for the debts and obligations of the LLC. An LP protects limited partners from personal liability, while the general partner is liable for all debts and obligations of the partnership. A GP offers no liability protection for its partners. Additionally, NJCMCLPs and Jumps offer tax advantages, such as the ability to pass profits and losses through to the partners. Lastly, these entities are typically easier to operate than corporations, as they require fewer formalities and fewer filing requirements.