partnership?

I have noticed that some partnerships are called (example's only): Fershee L.L.P. (limited liability partnership) while others are called Fershee L.P. (limited partnership). Is there a difference between an L.L.P and an L.P. or do they mean the same thing?

thanks

Tom

Professor's Response:

Great question, and certainly appropriate for today's discussion. In fact, today's class (October 27, 2008) will cover this specific issue. The short answer is no, they are not the same. Stay tuned . . . .