Question

define LLP ?
and it's functions?

​

Answer 1

Answer:

Hope this helps you

Explanation:

limited liability partnership

limited liability partnershipConcept of "limited liability partnership"

limited liability partnershipConcept of "limited liability partnership" The LLP can continue its existence irrespective of changes in partners. The LLP is a separate legal entity, is liable to the full extent of its assets but liability of the partners is limited to their agreed contribution in the LLP.

Answer 2

Answer:

A Limited Liability Partnership ('LLP') is an alternative corporate business vehicle that combines the flexible structure of a partnership with the benefits for its partners (or “members”) of limited liability.

Explanation:

FUNCTIONS

Limited liability partnerships (LLPs) allow for a partnership structure where each partner's liabilities is limited to the amount they put into the business. Having business partners means spreading the risk, leveraging individual skills and expertise, and establishing a division of labor.