Social Sciences, asked by SOURABH9405, 9 months ago

Explain limited liability partnership.

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Answered by skhan9431400875

1

Answer:

A limited liability partnership (LLP) is a partnership in which some or all partners (depending on the jurisdiction) have limited liabilities. It therefore can exhibit elements of partnerships and corporations. In an LLP, each partner is not responsible or liable for another partner's misconduct or negligence.

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