1. Limited Liability: Limited partners enjoy limited liability, meaning their personal assets are protected from the partnership's debts and liabilities. 2. Capital Contribution: LPs can attract investors who are interested in contributing capital without being involved in day-to-day operations. 3. Tax Benefits: LPs can enjoy pass-through taxation, where the profits and losses are passed directly to the partners' personal income without being subject to corporate taxes. 4. Flexibility: The structure allows for a flexible management and profit-sharing arrangement, adapting to the needs of the business and partners.