A limited liability Partnership (LLP) may be a partnership within which some or all partners have liability. It, therefore, exhibits components of partnerships and firms. In an LLP, one partner isn't accountable or chargeable for another partner's misconduct or negligence. this can be a crucial distinction from that of an infinite partnership. In an LLP, some partners have a type of liability kind of like that of the shareholders of an organization. In some countries, associate LLP should even have a minimum of one
A limited liability Partnership (LLP) may be a partnership within which some or all partners have liability. It, therefore, exhibits components of partnerships and firms. In an LLP, one partner isn't accountable or chargeable for another partner's misconduct or negligence. this can be a crucial distinction from that of an infinite partnership. In an LLP, some partners have a type of liability kind of like that of the shareholders of an organization. In some countries, associate LLP should even have a minimum of one "General Partner" with unlimited liability.