Question

When partners have created a _______, all the partners assume liability for one partner's professional malpractice, but only to the extent of the partnership's assets.

Answer 1

Limited liability partnership

Step-by-step explanation:

Limited liability partnership (LLP) is a form of partnership run by two or more partners in which there is no general liability for all partners. Each or all partners bears a limited liability of the financial implications of the business. Although each partner contributes to the running of the business, each partners enjoys limited personal liability for other partners actions but only to the extent of the partnership's assets