1, LP is a limited partner, which refers to people with capital and investors who do not participate in investment management activities.

2.GP is a general partner, which refers to a person who manages money for investors with capital, or a person who can invest with his own money and participate in management.

3. Limited partnership consists of general partner and limited partner. The general partner shall be jointly and severally liable for the debts of the partnership, and the limited partner shall be liable for the debts of the partnership to the extent of the capital contribution subscribed.

4. A limited partner shall not represent a limited partnership enterprise without performing partnership affairs.

Extended data

LP\GP conversion rules

1. Where a limited partner is changed into a general partner, it shall be jointly and severally liable for the debts incurred by the limited partnership during its tenure as a limited partner.

2. Where a general partner is transformed into a limited partner, it shall be jointly and severally liable for the debts incurred by the partnership during its tenure as general partner.

reference data

Baidu encyclopedia -LP

Baidu encyclopedia -GP