Corporate Law Limited Liability Partnership vs. General Partnership

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jaybaby

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I have a question regarding the type of business structure that would be best for my situation. I live in the state of Oregon and I am considering entering into a business partnership with a chiropractor. The Chiropractic Examiners Board and the laws in the state of Oregon require that any partnership or business must be owned 51% by a licensed chiropractor. In this situation, I will be the 49% partner in the business. Before we decide to move forward with our business plan we are discussing a partnership agreement. My question then is, for this type of business (chiropractic practice) and the members involved (myself and the chiropractor), what type of agreement should we draw up. Should we have just a general partnership agreement or should we form a limited liability company? I have also heard of limited liability partnership (LLP). Is that different from an LLC? Is the partnership agreement different than the LLC or LLP documents we will be required to file? Any help and clarification about these would be much appreciated.
 
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