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Wife want to start their own business

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If a husband and wife want to start their own business, and the wife's mother wants to contribute to their start up costs but just wants to remain a silent partner with zero personal liability to business or operations, which would be a better choice of company to start - an LLC or a Limited Partnership? An LLC would allow them to file articles of organization and the members are agents but liable only for investment. But, a Limited Partnership would have personal obligation for the general partners with limited partners obligated only for investment. I'm not seeing the value of one over the other in this example. Any ideas of which way to go?

Reference no: EM131642516

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