A Limited liability
Partnership is a business entity that can be incorporated as per Limited
Liability Partnership Act 2008. It can be started with minimum two
persons and has no upper limit on the number of partners.
A Limited
Liability Partnership combines the advantages of both the company and
partnership into a single form of organisation. Basic
advantage of LLP is to provide a form of organisation which is simple
to maintain while at the same time providing limited liability to
partner.