Partnerships have various advantages over corporations. However, one of the major disadvantages for a partnership versus corporations is the...

Partnerships have various advantages over corporations. However, one of the major disadvantages for a partnership versus corporations is the liability issue. Does the addition a of limited partnership (LP) and limited liability partnership (LLP) increase or decrease the advantages or remove the disadvantage?

Limited Partnership: It is formed by more than one person. In this constitution one partner has limited liability while the another has unlimited liability. One partner who has unlimited liability...