12/9/2019

Understanding LLP Registration, Agreement and its Advantages

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A limited liability partnership (LLP) is a body corporate formed and incorporated under the Limited Liability Partnership Act, 2008. It is a legally separated entity from that of its partner.

An LLP is liable to the full extent of its assets but liability of the partners is limited to their agreed contribution in the LLP. Since liability of the partners is limited to their agreed contribution in the LLP, it contains elements of both a corporate structure as well as a partnership firm structure.

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Tags: llp registration / llp / llp agreement / limited liability partnership registration

 

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