LLP vs. Company LLP vs. Company: An LLP (Limited Liability Partnership) and a company represent distinct legal business structures, showcasing prominent dissimilarities. Here are some of the main differences between an LLP vs. Company: Legal Structure: An LLP is a partnership where the partners have limited liability, meaning their personal assets generally do not… Read More »
LLP is partnership firm A Limited Liability Partnership represents a distinct type of partnership entity. It combines features of both partnerships and companies, providing the advantages of limited liability to its partners. In a traditional partnership firm, the partners have unlimited personal liability for the debts and obligations of the firm.… Read More »
LLP can be dissolved The process for dissolving a Limited Liability Partnership (LLP) typically involves the following steps: 1. Partnership Agreement: Review the partnership agreement to understand the provisions related to dissolution. The agreement may outline the process and conditions for dissolution, including partner consent, notice periods, and the distribution of assets and liabilities.… Read More »
