FLP can stand for two different things: Forever Living Products and Family Limited Partnership.
Forever Living Products (FLP) is a multi-level marketing company that sells aloe vera-based drinks, supplements, and personal care products. The company was founded in 1980 in Tempe, Arizona by Rex Maughan and has a network of 9.3 million distributors and revenue of $4 billion in 2021.
On the other hand, a Family Limited Partnership (FLP) is a type of limited partnership where family members pool money into a family business. Each family member buys units or shares of the business and can profit in proportion to the number of shares they own, as outlined in the partnership operating agreement. FLPs are used by families to start a business together or to be an estate planning vehicle. They are made up of general partners who manage the business and limited liability partners who only invest in the business.
In summary, FLP can refer to Forever Living Products, a multi-level marketing company, or Family Limited Partnership, a type of limited partnership where family members pool money into a family business.
