LLP
LLP
Limited liability partnership (LLP) is a type of general partnership where every partner has a limited personal liability for the debts of the partnership.
LLP is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partnership. Common businesses that become LLPs are law firms, accounting firms, and doctor offices because multiple partners are involved in the business.An LLP is a general partnership formed by two or more owners (called partners). Similar to an LLC, an LLP is a cross between a corporation and a partnership, with the partners enjoying some limited personal liability.
