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Home | Business Formations | Limited Liability Partnership

Limited Liability Partnership

1.	Definition of a Limited Liability Partnership or LLP
2.	Forming an LLP
3.	Allocating Losses and Profits in an LLP
4.	Differences between an LLP and a Limited Partnership (LP)
5.	Advantages of an LLP
6.	Disadvantages of an LLP
7.	Number of Owners Required to Form an LLP
8.	Restrictions on Who Can Form an LLP

4. Differences between an LLP and a Limited Partnership (LP)

LLPs are distinct from limited partnerships in that limited liability is granted to all partners, not to a subset of non-managing "limited partners." As a result, LLPs are more suited for businesses where all investors wish to take an active role in management.

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