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Abstract

Although limited partnerships may have become less important with the advent of the limited liability company, they still play a significant role in the United States. "[T]he International Association of Commercial Administrators (IACA) indicate that the limited partnership remains a significant entity of choice. IACA's members report more than 63,000 new limited partnerships filings in 2000, more than 55,000 in 2001, and more than 63,000 in 2002. These numbers are in addition to the "hundreds of thousands of existing limited partnerships. Additionally, four uniform laws address the legal treatment of limited partnerships.

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