What is another name for limited partnerships?

Limited partnerships are indeed referred to as “Partnership in Commendam.” This terminology is rooted in the legal definition of a limited partnership, which consists of at least one general partner and one or more limited partners. The general partner manages the business and assumes full liability, while the limited partners contribute capital and share in the profits, but their liability is limited to the extent of their investment in the partnership.

The other options do not accurately reflect the nature of limited partnerships. A general partnership involves all partners sharing equal responsibility and liability without any limitation. A limited liability company (LLC) is a distinct legal entity that combines aspects of corporations and partnerships but is not synonymous with a limited partnership. A sole proprietorship refers to a business owned and run by one individual and does not involve partners at all. Thus, “Partnership in Commendam” is the specific legal term that correctly identifies limited partnerships.