A new trend has been observed in these days that more and more entrepreneurs have started opting for limited liability partnership. But what is a limited liability partnership?
A limited liability partnership (LLP) is an entity of business organization has been introduced in India as Limited Liability Partnership Act, 2008. LLP combines the advantages of both the Company and Partnership into a single form of organization. In a LLP, some partners have a form of limited liability for each individual partnership similar to that of the shareholders of a corporation as like one partner is not responsible or liable for another partner’s misconduct or negligence.
A limited liability partnership (LLP) is an entity of business organization has been introduced in India as Limited Liability Partnership Act, 2008. LLP combines the advantages of both the Company and Partnership into a single form of organization. In a LLP, some partners have a form of limited liability for each individual partnership similar to that of the shareholders of a corporation as like one partner is not responsible or liable for another partner’s misconduct or negligence.
