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- A company is a business entity that is separate from its owners and has a perpetual existence. A company can raise funds from the public by issuing shares and debentures. A company is governed by the Companies Act and has to comply with various statutory requirements1.A limited liability partnership (LLP) is a business entity that combines the features of a partnership and a company. An LLP has limited liability for its partners and can have flexible internal management. An LLP does not have to issue shares or debentures to the public. An LLP is governed by the Limited Liability Partnership Act and has to register with the Registrar of LLPs21.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.An LLP is a corporate business form that provides the benefits of a partnership firm and a company. It is a hybrid between a company and a partnership firm as it incorporates properties of both structures. An LLP has a separate legal entity in the eyes of the law, and it is liable for the full extent of its assets.cleartax.in/s/difference-between-llp-and-partnershipLimited partnerships have one person with unlimited liability; this person usually has day-to-day control over the administration of the business. The rest of the partners have limited liability. A limited liability partnership gives all partners limited liability. In this case, the company hires someone to run the business.www.thebalancemoney.com/which-should-i-form-a…
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WEBOct 2, 2021 · A Limited Liability Partnership is a similar pass-through entity, but it must (as the name implies) have at least two …
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WEBDec 1, 2020 · An LLP is an unincorporated business owned and run by multiple people, all of whom share ownership and management responsibilities. These multiple partners enjoy limited personal liability …
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WEBJun 7, 2021 · What's the difference between a limited partnership and a limited liability partnership? Limited partnerships have one person with unlimited liability; this person usually has day-to-day control over the …
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