1 limitation of liability: a limited partnership consists of one or more limited partners and at least one general partner. The general partner shall bear unlimited liability for the debts and obligations of the enterprise, and the liability of the limited partner shall be limited to the amount of its capital contribution. All members of a limited liability company bear limited liability for the debts and obligations of the enterprise, and personal property is separated from company property.
2 Management structure: In a limited partnership, the general partner is usually responsible for the management of the enterprise and assumes the power and responsibility of manipulation. Limited partners usually only participate in investment and enjoy the corresponding income rights. Limited liability companies can be managed by members or appointed managers, which has a more flexible management structure.
3 Profit distribution: In a limited partnership enterprise, the profit distribution is determined by the partnership agreement, and it is distributed according to the proportion of the partners' capital contribution or by other means of consensus. A limited liability company may decide the way of profit distribution according to the negotiation among its members, and may even choose proportional distribution or other ways.