Free

Limited Liability Partnerships - Speech or Presentation Example

Add to wishlist

Summary

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…

Download full paper File format: .doc, available for editing

GRAB THE BEST PAPER97.1% of users find it useful

Read Text Preview

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.

CHECK THESE SAMPLES OF Limited Liability Partnerships

Partnership and Limited Liability Partnership in the US

In the United States, there have been established Limited Liability Partnerships which have got different features as compared to other forms of partnership2.... Name: Instructor: Course: Date: Partnership and limited liability Partnership (LLP) in the United States of America Introduction Among the various business entities allowed by the government, partnerships have been one of the most interesting engagements that two business principles have ever entered into....

24 Pages (6000 words) Essay

Business Organasation

Limited Liability Partnerships and Other Forms of Business Organisations Name: Institution: Course: Date: Characteristics of Limited Liability Partnerships A Limited Liability Partnership (also known as a limited liability corporation) is a form of business ownership that composes of the characteristics prevalent in both a partnership and a corporation structures.... Consequently, the increase in Limited Liability Partnerships in entirely linked with the unique tax advantages available for the partners/members....

5 Pages (1250 words) Essay

Partnerships and Limited Liability Partnerships

The paper “Partnerships and Limited Liability Partnerships” seeks to evaluate the relationship which exists between persons carrying on a business in common with a view to profit.... hellip; The author states that it is necessary to understand the concept of Agency in this context as partnerships are understood to be basically relationships of the agency....

6 Pages (1500 words) Assignment

The Law of Enterprise Organization

Limited Liability Partnerships Based on the Uniform Partnership Act Chapter 108A, Section 48 one of the key benefits of Limited Liability Partnerships is that, there is a... This is then followed by a discussion of the pros and cons for each investor and for the business as a whole with a focus on limited liability Company, limited liability Partnership, and “S" and "C” corporations.... Limited Partnerships Based on the stipulations of Chapter 109, section 2 of the Uniform Limited Partnership Act, a limited partnership would not work very well for this group since it would imply some members possessing minimal level of control and rather limited liability and the one who is active will be liable for any debt or obligation....

11 Pages (2750 words) Assignment

Limited Liability Partnership

Limited Liability Partnerships are advantageous in that they are easy to establish and manage as compared to corporations and companies.... Limited Liability Partnerships require no minimum capital to be established as compared to other forms of businesses, such as companies and corporations.... Limited Liability Partnerships have few legal formalities required to establish the business.... Limited Liability Partnerships are advantageous in that the partnerships are treated as separate legal entities from their owners....

3 Pages (750 words) Essay

Mechanisms Provided by The Limited Liability Partnership Act 2000

These mechanisms are used to put in place safeguards for those willing to deal with Limited Liability Partnerships.... nbsp; I was tasked with researching and preparing a presentation on the advantages and disadvantaged of Limited Liability Partnerships.... The Limited Liability Partnership Act, also known as the LLPA, is an act that provides for a framework under which Limited Liability Partnerships are created.... The paper "Mechanisms Provided by The limited liability Partnership Act 2000" discusses the law insolvency and nuances how company law can be applied to LLP's one....

7 Pages (1750 words) Term Paper

Management of Law Office

There are several forms of business organizations that a person may venture into among them sole proprietorship, partnerships, Limited Liability Partnerships, law corporations and group law practices.... There are several forms of business organizations that a person may venture into among them sole proprietorship, partnerships, Limited Liability Partnerships, law corporations and group law practices.... Consequently, this form of business may prove unproductive taking into consideration the likely disagreements that may arise between the partners or even the fact that they will be subjected to unlimited or limited liability based on the nature of the partnership....

3 Pages (750 words) Assignment

Legal Forms of Business

Limited Liability Partnerships are recommendable for small businesses that start off with one person or company as the owner but the need to expand by soliciting investments from other persons or companies.... limited liability companies, on the other hand, are suitable for persons wishing to set up a business entity where owners' liability for business debts and court judgements made against the company.... partnerships are typical in instances where the entity's business line is not risky enough to warrant a more complex model....

2 Pages (500 words) Essay