LP (limited partner) generally refers to limited partners.
Limited partners, i.e., institutional investors and individual investors such as enterprises or financial and insurance institutions participating in the investment, or partners who are legally recognized as incapable of civil behavior or limited capacity for civil behavior with the unanimous consent of the other partners who are legally converted to limited partners . These people only bear limited liability.
Limited partners may make contributions in money, in kind, intellectual property rights, land use rights or other property rights. A limited partner may not contribute with labor.
Limited partners shall pay the capital contribution in full and on time as agreed in the partnership agreement; if they fail to pay in full and on time, they shall bear the obligation to make up for the contribution and shall be liable for breach of contract to the other partners.
The limited partners shall not execute partnership affairs and shall not represent the limited partnership externally.
The limited partners may engage in transactions with the limited partnership; however, unless otherwise agreed in the partnership agreement.
A limited partner may engage in business, either on its own or in cooperation with others, that competes with the limited partnership; however, unless otherwise agreed in the partnership agreement.
A limited partner may pledge its share of the property of the limited partnership; however, unless otherwise agreed in the partnership agreement.
A limited partner may transfer its share of property in a limited partnership to a person other than a partner as agreed in the partnership agreement, but shall give thirty days' prior notice to the other partners.
References: Baidu Encyclopedia ? Limited partner