Limited Liability PartnershipsLearn More About Legal Matters Regarding Limited Liability Partnerships
A Limited Liability Partnership or LLP, affords the owners of that company with personal limited liability protection. Limited Liability Partnerships are particularly well-suited for professionals such as lawyers, doctors and accountants. Many professionals choose a limited liability partnership over a corporation, general partnership or limited liability company because they wish to be protected from problems of other partners, usually those involving malpractice claims. Within LLP each partner is protected from the debts and liabilities of malpractice lawsuits from other partners in the partnership. A limited liability partnership is also a lot less cumbersome and less difficult to maintain than a corporation, which is one of the best benefits of using this form of business entity.