Definition of Master limited partnership (MLP)

Master limited partnership (MLP)

A publicly traded limited partnership.

Cost of limited partner capital

The discount rate that equates the after-tax inflows with outflows for capital
raised from limited partners.

Demand master notes

Short-term securities that are repayable immediately upon the holder's demand.

General partnership

A partnership in which all partners are general partners.

Limited liability

Limitation of possible loss to what has already been invested.

Limited partner

A partner who has limited legal liability for the obligations of the partnership.

Limited partnership

A partnership that includes one or more partners who have limited liability.

Limited-liability instrument

A security, such as a call option, in which the owner can only lose his initial
investment.

Limited-tax general obligation bond

A general obligation bond that is limited as to revenue sources.

Limited partnership

A partnership that includes one or more partners who have limited liability.

Limited-liability instrument

A security, such as a call option, in which the owner can only lose his initial investment.

Partnership

Shared ownership among two or more individuals, some of whom may, but do not necessarily,
have limited liability. See: general partnership, limited partnership, and master limited partnership.

Unlimited liability

Full liability for the debt and other obligations of a legal entity. The general partners of a
partnership have unlimited liability.

limited liability company

an organizational form that is a hybrid of the corporate and partnership organizational
forms and used to limit the personal liability of the owners;
it is typically used by small professional (such as accounting) firms

limited liability partnership

an organizational form that is a hybrid of the corporate and partnership organizational
forms and used to limit the personal liability of the owners;
it is typically used by large professional (such as accounting) firms

master budget

the comprehensive set of all budgetary schedules
and the pro forma financial statements of an organization

Partnership

A form of business organization in which owners have unlimited personal
liability for the actions of the business, though this problem has been mitigated
through the use of the limited liability partnership.

limited liability

The owners of the corporation are not personally responsible for its obligations.

partnership

Business owned by two or more persons who are personally responsible for all its liabilities.

Item master file

A file containing all item-specific information about a component,
such as its weight, cubic volume, and unit of measure.

Partnership

Non-incorporated business venture of two or more individuals or companies. Profits or losses flow, directly and equally, to the partners.

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