Limited Liability Partnership (LLP)

Nasirqureshi21 May, 2022Legal

Limited liability partnership is a business entity that was introduced under Limited Liability Act 2008. The positive aspect of limited liability Partnership is that one partner isn't responsible for misconduct of the alternative partners. Limited liability Partnership offers indebtedness to its owners & requires minimal maintenance. they have indebtedness to their owners and just in case of default, bank/creditors can sell only company?s assets & not owner's personal assets.