I'm guessing the L/P would be the program Wilson Logistics had/has as they were sold to Ashley Pacific Northwest.
Here is how I look at L/P programs: You are simply a company driver that takes on all the risk! Can you haul loads off the spot market? NO. Can you haul loads for other carriers? NO. Do all your loads come from the company dispatch? YES. Then you are a company driver being called an O/O.
Three things are true: You will pay a sh** ton of money for a truck, you will make (maybe) as much as a company driver, you will be married to your truck because coming out of home time you will be starting in the red. But your mileage may differ, I'm just nobody that knows nothing and has an opinion.