Limited Liability Partnership (LLP): Meaning and Features
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Limited Liability Partnership (LLP): Meaning and Features
A limited liability partnership (LLP) is a flexible legal and tax entity that allows partners to benefit from economies of scale while also reducing their liability.
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What is LLP ? What is an LLP? An LLP, or Limited Liability Partnership, is a unique business structure that combines the characteristics of both partnerships and corporations. It is designed to provide its partners with the flexibility of a partnership while offering the limited liability protection typically associated with a corporation. In an LLP, each partner's personal assets are safeguarded from the business's debts or legal claims, meaning that they are not personally liable for the misco
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