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Anyone planning to do business within the Commonwealth of Pennsylvania can reserve an entity name. Filing your name reservation prevents another entity from using that name to conduct business in the state during the time of your hold. An entity name reservation in Pennsylvania gives you a 120-day hold on that name.
Register Your Business Name with the New Jersey DORES If you dont want to form your corporation right away, you can reserve the business name. Youll do this by completing an Application for Reservation of an Entity Name and filing it with the New Jersey DORES. The name will be reserved for 120 days.
A limited partnership is a specialized form of general partnership. While it is very similar to a general partnership in most aspects, the limited partnership is made up of at least one or more general partners and at least one or more limited partners.
Once youve chosen your business name, you might consider reserving it with the Department of State while you complete the other requirements to registering your business entity. You can reserve your name for 60 days by filing an Application for Reservation of Name and paying a filing fee of $20.
Updated: February 23, 2023. A limited partnership (LP) is a type of business partnership with two classes of partner. One is general partners, who manage the business and are liable for its debts. The other is limited partners, who are only liable for the amount they originally invested.

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One of the advantages of a limited partnership is that there are only a few requirements for its formation. For example, there is no minimum capital requirement neither for the formation itself, nor for the individual shareholders. In principle, there is also freedom to choose the company name.
The main advantage for limited partners is that their personal liability for business debts is limited. A limited partner can only be held personally responsible up to the amount he or she invested. Limited partners enjoy a protected investment, knowing they cannot lose more money than theyve contributed.
The company is run by the single general partner with majority ownership. A limited partnership has relatively few operational formalities, low-to-mid-range administration costs and clear rules for raising capital. Important decisions are made by the general partner, with the limited partners kept informed. Accounting.

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