Limited liability partnership: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson (Link with PSC page.) |
imported>Doug Williamson (Expand for LLC.) |
||
| Line 10: | Line 10: | ||
== See also == | == See also == | ||
* [[Limited liability]] | * [[Limited liability]] | ||
* [[LLC]] | |||
* [[Partnership]] | * [[Partnership]] | ||
* [[PSC]] | * [[PSC]] | ||
Revision as of 17:57, 8 April 2018
(LLP).
A limited liability partnership shares many of the features of an unlimited partnership - but it also offers reduced personal responsibility to the partners for the business debts of the partnership.
Unlike an unlimited partnership, the LLP itself is responsible for any debts that it runs up, not the individual partners.
LLPs were first allowed in law in the UK under the Limited Liability Partnerships Act 2000.
