There are several forms of companies that are widely used in Canada. The most common are: corporations (Corp.), non-provincial corporations (EPC), joint-stock companies (JSC), limited liability partnerships (LLP) and limited liability partnerships (LP).
In general, a limited liability partnership (LP) is a form of legal entity that involves the participation and cooperation of two partners who share obligations and income to achieve a common goal. One of the partners has limited liability and the other has unlimited liability. Usually the number of partners can be more than two. However, each of them is either a general partner (unlimited liability) or a limited partner (limited liability). An LP in Canada can also be formed by a single person who is both a general partner and a limited partner. http://www.confiduss.com/en/info/blog/article/canadian-lp-application/