Definition Of Limited Liability Partnership

Best Legal Services07 Dec, 2022Business

In India, the options for conducting business were always a company, a sole proprietorship, or a partnership. A new corporate form that would serve as an alternative to these was deemed to be necessary given the expansion of the Indian economy. We looked at a new type of business organisation called a ?Limited Liability Partnership? because of the limitations of partnerships and the rigidity of company forms of business.