Question

what is designated partner?​

Answer 1

Answer:

Designated Partners is a concept introduced by the Limited Liability Partnership Act, 2008. Designated Partners are similar to Directors of a Private Limited Company. A Designated Partner in a LLP when compared to the Director of a Company, enjoy more rights and priviledges.

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Answer 2

Answer:

1. Â Partner is a generic term used to represent partners in case of General Partnerships while Designated Partner is a term used in case of Limited Liability Partnerships.

Explanation:

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