There are several types of business entities in Nevada. Each entity has its own specific benefits, and drawbacks. Which entity is right for your business depends upon many factors, including the size of your business, your goals, and the risk inherent in your industry. Nevada offers limited partnerships. A limited partnership is an agreement between several people to operate a business. In a limited partnership, one partner - called the general partner - runs the business. As the person running the business, the general partner is directly liable and at risk for any of the company's liabilities. Such liabilities might …