An important form of business organization is a partnership. A partnership firm is a business that is formed by two or more individuals coming together to form a business and dividing the profits in a manner that has been agreed upon. Any type of business, trade, occupation, or profession can be considered as a partnership…
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The Benefits of Choosing a Limited Liability Partnership over a Partnership Firm
In LLPs and Partnership Firms, two or more people come together to form one business entity. Furthermore, these firms’ profits and losses are shared by their participants according to their agreements. What is LLP (Limited Liability Partnership)? The liability of the partners in a Limited Liability Partnership (LLP) is limited to some or all of…