VIDEO: Don’t Call Them GPs and LPs

Using the terms general partner (GP) and limited partner (LP) in reference to a limited liability company (LLC) is a common error. In this video, syndication and crowdfunding attorney Gene Trowbridge, Esq. CCIM explains the correct terminology, emphasizes its importance, and clarifies the distinctions between limited partnerships, which utilize GPs and LPs, and limited liability companies, which refer to members and managers.