/ Dictionary / Index L limited partnership: Meaning and Definition of Find definitions for: lim'ited part'nership Pronunciation: [key] a partnership formed by at least one general partner and at least one special partner.Cf. Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease. limited partner limited-payment life insurance Related Content Daily Word Quiz: frugal Analogy of the Day: Today’s Analogy Spelling Bee: Today’s Spelling Bee Frequently Misspelled Words Frequently Mispronounced Words Easily Confused Words Writing & Language