Which form of business entity was created primarily to shield innocent owners,particularly those in professions,from malpractice liability generated from other owners in the firm?

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The limited liability partnership was created primarily to shield innocent owners, particularly those in professions, from malpractice liability generated from other owners in the firm. This form of business entity allows all partners to have limited liability protection while still being able to actively participate in the management of the business. Limited partnerships also provide limited liability protection, but they require at least one general partner who has unlimited liability. A limited liability company is another option, but it may not be the best choice for those in certain professions due to state-specific restrictions.

Which Form of Business Entity Was Created Primarily to Shield