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SETTING UP AN IRISH LIMITED PARTNERSHIP
By Seamus Parfrey
The Limited Partnerships Act 1907 regulates partnerships in which some members have limited liability for the debts of the partnership as their liability is limited to the extent of the amount of capital contributed by them to the partnership.
A partnership may be made up of natural persons and bodies corporate.
It is not a separate legal entity and accordingly has no legal personality separate and distinct from the partners who form the partnership. Therefore the partners can be sued in their own names.