Limited partners, limited partners can leave the business and sell their part without dissolving the business. This allows limited partners to leave and enter the business and also allows for the sale or transfer or ownership to other parties. This allows easy transfer of ownership.

Investor Appeal, Limited Partnerships are often favored by investors because they can invest in the business without directly being involved. This is particularly appealing to those who want to support ventures without putting in a lot of time and effort.

In 1822, New York became the first common-law state to authorize the formation of limited partnerships.