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Limited liability partnership

partnership in which some or all partners (depending on the jurisdiction) have limited liabilities

Pronunciation
/ˈlɪmɪtɪd lʌɪəˈbɪlɪti ˈpɑːtnəʃɪp/
/ˈlɪmədəd ˌlaɪəˈbɪlədi ˈpɑrtnərˌʃɪp/