A more thorough explanation:

A limited partnership is a type of partnership where some partners have limited personal liability. In a general partnership, all partners are personally liable for the debts and obligations of the partnership. However, in a limited partnership, at least one partner has unlimited personal liability while the liability of the other partners is limited to their contribution to the partnership.

John and Jane want to start a business together. John has experience in managing a business, while Jane has money to invest. They decide to form a limited partnership where John is the general partner and Jane is the limited partner. John will manage the business and make all the decisions, while Jane will only provide the money and won't be involved in the day-to-day operations. If the business incurs any debts or obligations, John will be personally liable for them, but Jane's liability will be limited to the amount of money she invested.

This example illustrates how a limited partnership allows one partner to invest in a business without risking their personal assets.

Unlike general partnerships, a limited partnership must be registered with the appropriate state agency, and the partnership agreement governs the operations of the partnership. The general partner manages the partnership, while the limited partner has limited involvement in decision-making.

Overall, a limited partnership provides a way for investors to passively invest in a business without worrying about personal liability.