Limited Liability Partnership(LLP) The Limited Liability Partnership is a form of business where the owners are given the advantage of Limited liabilities and at the same time require minimal maintenance. The directors of a private limited company have limited liability to creditors. In case of default, banks/creditors can only sell the company’s assets and [...]
Introduction By way of the Limited Liability Partnership Act, 2008 the worldwide recognized form of a business organization named Limited Liability Partnership entities was introduced in India. A Limited Liability Partnership combines the advantages of both the Company and Partnership in a single form of organization. The important difference from that of traditional partnership [...]
Nowadays, many partnership firms are converting themselves into Limited Liability Partnership, because it provides some amazing benefits like - limited liability protection, no maximum limits for the number of partners, easy to transfer ownership, etc. Related: Conversion of an LLP into Partnership Mentioned below are the steps required to be followed to convert a [...]
A limited Liability Partnership (LLP) is a partnership firm in which the company enjoys both, the rights of the private limited company and a public limited company. The vital reason to introduce the LLP as a corporate entity is to provide a form of business that is effortless to maintain by the partners by providing limited [...]
LLP, which is the recognized form of business organization was introduced in India by the way of the Limited Liability Partnership Act, 2008, and the LLP Rules, 2009. A limited liability partnership (LLP) is a kind of partnership in which all the partners have limited liabilities. It is an alternative corporate form of business [...]
Introduction LLP Agreement means a composed assertion between the associates and the Limited Liability Partnership (LLP) which set up the rights and obligations of the LLP. It is a corporate body made by the law. According, to the LLP law, any two people can incorporate an LLP by buying into the joining records. Once [...]
The partnership firm was a very popular form of business entity owing to the simplicity of formation and ease of management and termination. But now LLP over Partnership is preferred as a business entity. LLP Registration is optional and the cost of formation is almost nil. It is registered under the Indian Partnership Act,1932 by [...]
