What is a Limited Liability Partnership?

What is a Limited Liability Partnership?

A limited liability partnership (LLP) is much used legal business structure in India. Professional & Legal firms such as solicitors and accountants often choose to set up limited liability partnerships. Still, its structure can always be a beneficial option for other categories of business as well.

Limited liability partnerships differ from the ‘traditional’ business partnerships, and the limited company structure and various legislation regulate it, including the Limited Liability Partnership (LLP) Regulations, 2008.