Tag Archives: #PartnershipBusinessModel

LLP vs Partnership: LLP difference with partnership ?

LLP vs. Partnership

LLP vs Partnership   A Limited Liability Partnership and a partnership are both forms of business entities that involve two or more individuals or entities coming together to carry out a business venture. However, there are some key differences between an LLP and a partnership as follow: 1.Liability: In a partnership, the partners have unlimited… Read More »

How LLPs can join partnership firms?

LLP without partnership agreement

How LLPs can join partnership firms   How LLPs can join partnership firms: No, it is not possible for a Limited Liability Partnership (LLP) to serve as a partner within a partnership firm. The LLP Act, 2008 in India does not allow an LLP to become a partner in a partnership firm. LLPs are distinct… Read More »