Map of Murchison for A new legal organizational form that has been recognized by the U.S. government since 2001, limited-liability partnership is a hybrid between a limited company and a partnership. It is an option for a general partnership whose partners want to retain the basic features of a partnership but at the same time want to have the privilege of limited liability. It is a form that is supposed to be attractive for firms that are organized under a professional partnership, such as attorneys and accountants. In fact, in California for example, this form is only available to attorneys and accountants. Even with the attribute of limited liability, LLP is still treated as a partnership for tax returns. Map of Murchison 2016.