While a Limited Partnership $($LP$)$ and a Limited Liability Partnership $($LLP$)$ have similar structure, LPs have general partners and limited partners, while LLPs have no general partners. All partners in an LLP have limited personal legal liability. $($true or false

A Limited Liability Partnership $($LLP$)$ is a type of partnership where all partners have limited liability and all partners can also partake in management activities. $($true or false$)$

A Limited Liability Partnership $($LLP$)$ is unlike a Limited Partnership because in a Limited Partnership $($LP$)$ at least one general partner must have unlimited liability and limited partners cannot be part of management.

LLPs are often used for structuring professional services companies, such as law and accounting firms. However, LLP partners are not responsible for misconduct or negligence of other partners.