Hello, I am Keith, one of the experts on Just Answer, and happy to help you with your question.
Here is a definition from Wikipedia:
'In the United Kingdom limited partnerships are governed by the Limited Partnerships Act 1907. The UK government department of Business, Enterprise and Regulatory Reform (now the Department for Business Innovation and Skills) consulted in 2008 on proposals to modify and merge the Act with the Partnership Act 1890, but the proposals did not go ahead , and the 1907 Act remains the governing Act.
English law and Scottish law are distinct on partnerships.
In English law, limited partnerships are not legally separate entities: the partners are jointly and severally liable and any lawsuits filed are filed against the partners by name. There has been discussion over whether limited partnerships operating under English law should be made separate legal entities in the same way as limited liability partnerships are. The Law Commission report on partnership law LC283 suggested that creation of separate legal personality should be left as an option for the partners to decide upon when a partnership is formed. There were concerns that automatically making partnerships separate legal entities would restrict their ability to trade in some European countries and also expose them to different tax regimes than expected.'
Here is a definition from Investopedia of a limited partnership:
'Two or more partners united to conduct a business jointly, and in which one or more of the partners is liable only to the extent of the amount of money that partner has invested. Limited partners do not receive dividends, but enjoy direct access to the flow of income and expenses.'
A limited partnership is an individual concept for their own protection.
Limited Laibility Parnerships were created to protect individual partners from errors by other partners. Otherwise, in a traditional partnership they would be jointly and severally liable for all the partnership debts. Clearly for a big partnership a liability through the error of one partner could be collosal and bancrupt all the other partners hence the creation of the Limited Liability Partnership concept.
I do hope that I have been able to shed some light on your question.