Pennsylvania Reservation of Limited Partnership Name
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How to fill out Reservation Of Limited Partnership Name?
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FAQ
Limited partners can make investments in the company but have no voting power or control over its day-to-day operations. In exchange for contributions of cash, they receive a limited partnership interest that lets them share in the profits (and losses to the extent of their contribution.)
The firm name of your limited liability partnership must contain the words ?limited liability partnership? or ?societe a responsabilite limitee? or the abbreviations ?LLP?, ?L.L.P.? or ?s.r.l.? as the last words or letters of the firm name.
Limited Partnership Name (Must contain an LP ending such as LP or L.P. ?LP? will be added, if not included.)
Required words. The name of the limited liability partnership must include the words "registered limited liability partnership", ?limited liability partnership?, the letters "L.L.P.? or ?LLP?, or some other phrase or abbreviation indicating that the entity is a limited liability partnership.
A limited partnership (LP) exists when two or more partners go into business together, but the limited partners are only liable up to the amount of their investment. An LP is defined as having limited partners and a general partner, which has unlimited liability.
Online filing through PENN File is the quickest way to go about it. First, create an account. After you're signed in, select the appropriate form and follow the instructions to reserve your name. A name reservation costs $70 whether you're filing online or by mail.
An LP must have two or more owners. At least one must be a general partner who has unlimited, personal liability, and one must be a limited partner who has limited liability but is prohibited from participating in business management.
