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Limited Liability Partnerships - Speech or Presentation Example

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The paper "Limited Liability Partnerships" states that owing to flexibility in its structure and operation, the LLP would be a suitable vehicle for small enterprises and for investment by venture capital. Members in case of fraud are liable only if he assumes personal responsibility for the acts done…

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Subject: Other
Type: Speech or Presentation
Level: Undergraduate
Pages: 1 (250 words)
Downloads: 3
Author: nkertzmann

Extract of sample "Limited Liability Partnerships"

A Limited Liability Partnership (LLP) shares many of the features of a normal partnership - but it also offers reduced personal responsibility for business debts. Unlike members of ordinary partnerships, the LLP itself is responsible for any debts that it runs up, not the individual partners. The Limited Liability Partnership (LLP) is viewed as an alternative corporate business vehicle that provides the benefits of limited liability but allows its members the flexibility of organizing their internal structure as a partnership based on a mutually arrived agreement. The LLP form would enable entrepreneurs, professionals and enterprises providing services of any kind or engaged in scientific and technical disciplines, to form commercially efficient vehicles suited to their requirements.

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