Meaning and Concept of a Limited Liability Partnership (LLP)
A limited liability partnership is a legal body, liable for the full extent of its assets. The liability of the partners, however, is limited. It, therefore, can show elements of partnerships and companies. In an LLP, each partner is not responsible or liable for another partner's misbehavior or negligence.
DA: 21 PA: 18 MOZ Rank: 35