In a Limited Partnership there are two different classes of Partners, each class with different rights and liabilities. A Limited Partnership needs to have one or more Partners who are jointly and unlimitedly liable for all obligations the partnership might incur. This class of the Partners is called General Partners. Jointly means each Partner is liable for all Partner’s wrong doings. Unlimitedly means that Partners are also liable with their private wealth. Only General Partners might act as Directors of a Limited Liability Partnership. The second class of the Partners is called Limited Partner. A Limited Liability Partnership needs to have one or more Limited Partners whose liability are limited to the amount of capital contributed to the Partnership.