Limited Liability Partnership Incorporation
Get 30 Minutes Consultation free
Limited Liability Partnership
Limited Liability Partnership or LLP is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partnership.
- The LLP can continue its existence irrespective of changes in partners. It is capable of entering into contracts and holding property in its own name.
- The LLP is a separate legal entity, is liable to the full extent of its assets but liability of the partners is limited to their agreed contribution in the LLP.
- Further, no partner is liable on account of the independent or un-authorized actions of other partners, thus individual partners are shielded from joint liability created by another partner’s wrongful business decisions or misconduct.
- Mutual rights and duties of the partners within a LLP are governed by an agreement between the partners or between the partners and the LLP as the case may be. The LLP, however, is not relieved of the liability for its other obligations as a separate entity.
What SIGMAC & Co. Offers?
- LLP Registration
- LLP Agreement Drafting
- Name Reservation
- Annual Filing of Returns
- Introduction of New Partners and the modifications
- Conversion of firms/LLPs
- Conversion of LLP to Companies and vice-versa
- Reconstruction, Compromise and Agreement of Limited Liability Partnerships