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What is a Limited Liability Partnership? | Meaning of LLP explained | Setindiabiz
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Let's understand the meaning of LLP (Limited Liability Partnership) -
Starting a business in Partnership with other investors is not only popular but extremely convenient for entrepreneurs, as the amount of capital to be invested, the liabilities to be paid off, and the key managerial responsibilities can easily be shared among its multiple owners. But even among partnership businesses, you have two prominent structural options to choose from, namely a Partnership Firm & an LLP. However, a Limited Liability Partnership is clearly a better choice! To know why to make sure you watch this video till the end!
A Limited Liability Partnership was introduced in India in the year 2008, under the Limited Liability Partnership Act. Prior to its introduction, the only way to set up a Partnership Business was to opt for a Partnership firm which had its own set of drawbacks and demerits. So, it was high time that the Government brought in a Partnership Structure like the LLP, which was not only free from the flaws of a traditional Partnership Firm but was superbly convenient for all its stakeholders as well.
#LLP #LLPmeaning #meaning #meaningofLLP #setindiabiz
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Related Links and Videos:
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Fill up our online questionnaire and get your LLP Registered with our services in no time!
Struggling to choose the name of your LLP? Don’t worry! We are here to help you out!
Send us any five names, and we will let you know which one best suits you and is legally valid for your LLP.
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Chapters
00:00-1:03 -Intro
1:04-1:58 -What is a Limited Liability Partnership?
1:59-3:38 -Distinct Legal Identity
3:39-5:06 -Limited Liability
5:07-5:52 -Perpetual Succession
5:03-6:32 -Outro
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For more information:
Call Us @ +91-9899600605
Check other services
Starting a business in Partnership with other investors is not only popular but extremely convenient for entrepreneurs, as the amount of capital to be invested, the liabilities to be paid off, and the key managerial responsibilities can easily be shared among its multiple owners. But even among partnership businesses, you have two prominent structural options to choose from, namely a Partnership Firm & an LLP. However, a Limited Liability Partnership is clearly a better choice! To know why to make sure you watch this video till the end!
A Limited Liability Partnership was introduced in India in the year 2008, under the Limited Liability Partnership Act. Prior to its introduction, the only way to set up a Partnership Business was to opt for a Partnership firm which had its own set of drawbacks and demerits. So, it was high time that the Government brought in a Partnership Structure like the LLP, which was not only free from the flaws of a traditional Partnership Firm but was superbly convenient for all its stakeholders as well.
#LLP #LLPmeaning #meaning #meaningofLLP #setindiabiz
—--------------------------------------------------------------------------------------------------------------------------------------------------
Related Links and Videos:
---------------------------------------------------------------------------------------
Fill up our online questionnaire and get your LLP Registered with our services in no time!
Struggling to choose the name of your LLP? Don’t worry! We are here to help you out!
Send us any five names, and we will let you know which one best suits you and is legally valid for your LLP.
—----------------------------------------------------------------------------------------------------------------------------------------------
Chapters
00:00-1:03 -Intro
1:04-1:58 -What is a Limited Liability Partnership?
1:59-3:38 -Distinct Legal Identity
3:39-5:06 -Limited Liability
5:07-5:52 -Perpetual Succession
5:03-6:32 -Outro
—---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
For more information:
Call Us @ +91-9899600605
Check other services
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