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  2. Differences between limited liability partnership (LLP) and limited company (LC)12345:
    • Formation: LC can be formed with just one member, while an LLP requires at least two members.
    • Capital: An LLP cannot raise capital from external sources, while an LC can.
    • Liability: Both structures offer limited liability protection, but LLP requirements vary by state.
    • Management: LCs can have more flexible management structures.
    Learn more:
    If you're considering limited liability partnership vs limited company, the major difference lies in the fact that you can form a limited company with just one member, while an LLP requires at least two members. Moreover, unlike a limited company, a limited liability partnership cannot raise capital from external sources.
    www.upcounsel.com/limited-liability-partnership-vs …
    Limited liability companies (LLCs) and limited liability partnerships (LLPs) are two common legal classifications for small businesses. While the two sound very similar, there are crucial differences between these structures, and it’s important to choose the right one when you’re establishing a company from a legal, tax and management perspective.
    www.forbes.com/advisor/business/llp-vs-llc/
    If your business has two or more owners, you can structure it as a limited liability company (LLC) or a partnership. The two options have similarities but also a number of differences in the way they're run, the way they're taxed, and the type of liability protection that owners receive.
    www.legalzoom.com/articles/llc-vs-partnership
    Limited partnerships and limited liability companies differ significantly in business structures and liability protections. In a limited liability company, all LLC members enjoy personal liability protection and can participate in managing the company, offering a more flexible structure.
    osome.com/sg/guides/limited-partnership/
    A limited liability partnership is similar to a limited liability company (LLC) in that all partners are granted limited liability protection. However, in some states the partners in an LLP get less liability protection than in an LLC. LLP requirements vary from state to state.
    www.wolterskluwer.com/en/expert-insights/llc-vs-p…
     
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