Difference between partnership llp and private limited company
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Is a separate legal entity under the Companies Act, 1956. Is a separate legal entity under the Limited Liability Partnership Act, 2008. Name to contain 'Limited' in case of Public Company or 'Private Limited' in case of Private Company as suffix. Name to contain 'Limited Liability Partnership' or 'LLP' as suffix.
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The registration of the partnership firm is not compulsory whereas a Private Limited Company needs to get Compulsory Registration. ... In the Partnership Firm, a liability of the partners is unlimited whereas In case of Private Limited Company Liability is limited to the extent of shares held by every member.
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