A Limited Liability Partnership (LLP) Registration combines the flexibility of a
partnership with the limited liability features of a company.
Partners’ liability is limited to their agreed contribution, so personal assets are generally
protected from business liabilities.
LLPs are especially suited for SMEs, startups and professional firms (CAs, CS, lawyers,
architects). They offer simpler compliance, flexible governance, and a credible legal identity
without heavy corporate formalities.
Legal basis — LLP Act, 2008
LLP is governed by the Limited Liability Partnership Act, 2008 — designed to be a
low-compliance, investor-friendly structure.
Limited Liability
Liability limited to contribution.
Separate Entity
LLP can own assets & contracts independently.