In a traditional general partnership, all partners are liable for the partnership obligations. The Limited Liability Partnership is a recently created statutory general partnership form that, when statutory requirements are satisfied, insulates a partner from vicarious liability for certain obligations created by other partners.

These obligations can arise out of the negligence, malpractice or improper conduct of a partner or employee of the partnership. Because of these protections, this form is growing in use amoung accounting, legal and other professional firms.

This protection generally does not reach to general partnership business obligations.

Mr. Cooke's fee is $300.00 per hour.

Please feel free to contact Mr. Cooke directly at (312) 497-9002 or by email at "gc@Cookeslaw.com".