However, only limited parts of the law have been ratified. [5] The rules of the law were published in the Official Journal on 1 April 2009 and amended in 2017. [6] The first LLP was created on April 2, 2009. [7] Almost every U.S. state governs the formation of limited partnerships under the Uniform Limited Partnerships Act, which was originally introduced in 1916 and has since been amended several times. The last revision took place in 2001. The majority of the United States – 49 states and the District of Columbia – have adopted these provisions, with Louisiana being the only exception. In China, the LLP is known as a special general partnership (特殊普通合伙). The organizational form is limited to knowledge-based occupations and technical service industries. The structure protects co-partners from liabilities due to intent or gross negligence on the part of a partner or group of partners.

The LLP structure is often used by accountants to maintain the tax structure of traditional partnerships while adding some protection against limited liability. LLPs are also becoming increasingly common among law firms such as lawyers, although they are allowed to use a limited liability corporate structure. [19] As in the case of a partnership or limited liability company (LLC), the profits of an LLP are distributed among the partners for tax purposes, thus avoiding the problem of „double taxation“ that is often found in corporations. The Deutsche Partnerschaftsgesellschaft (PartG) is an association of non-commercial professionals who work together. Although it is not a corporation, it can sue and be sued, own property and act under the name of the partnership. .