Limited Liability Partnership
A Limited Liability Partnership (LLP) is a business structure that combines the advantages of both a corporation and partnership.
What is limited liability partnership?
LLP is an alternative business form that gives the benefits of limited liability of a company and the flexibility of a general partnership. It is the preferred choice for business who want minimal compliances and are not looking to raise funds. Its main advantage over the general partnership is that, as the name indicates, it limits the liabilities of its partners upto their contributions to the business and also offers each partner protection from the negligence, misdeeds or incompetence of the partners.
