Tag Archives: #CorporateLiability

LLP partners liable for debts right or wrong?

Are LLP Partners Liable for Debts: Right or Wrong   In the world of business, the structure of an organization significantly affects the liability of its members. One common structure is the Limited Liability Partnership (LLP). LLPs are popular among professionals such as lawyers, accountants, and architects due to the combination of flexibility and limited… Read More »

LLP and Private Limited Company Difference

LLP and Private Limited Company   Key differences between an LLP and Private Limited Company (often referred to as Pvt Ltd or Ltd): 1. Legal Structure: An LLP is a partnership where the partners have limited liability, while a Private Limited Company is a separate legal entity distinct from its shareholders. 2. Ownership: In an… Read More »

Why choose LLP over ltd?

LLP and Ltd   Why Choose LLP Over Ltd? Selecting the right business structure is essential when launching a venture. Limited Liability Partnership (LLP) and Private Limited Company (Ltd) are two popular options, each with its own advantages. Here’s a quick comparison highlighting why some entrepreneurs might prefer LLP over Ltd. 1. Ease of Formation… Read More »

LLP is a body corporate ?

LLP is a body corporate Certainly! An LLP is recognized as an independent legal entity and is categorized as a corporate body. This means that an LLP has its own legal existence independent of its partners. One notable characteristic of an LLP is its independent legal existence, which allows it to establish contractual relationships, hold… Read More »

Business Partnership V/s Corporation

Business Partnership V/s Corporation   A Business Partnership V/s Corporation are two different legal structures for businesses, each with its own characteristics and implications. Here are some key differences between a business partnership and a corporation:   Ownership and Structure: 1. Partnership: A partnership is formed when two or more individuals or entities come together… Read More »