(LLP) has emerged as an extremely popular type of business by entrepreneurs because it blends the advantages of both the partnership firm and company in one form of organization. It is a concept that was introduced in 2008. Limited Liability Partnership (LLP) was first introduced by India during 2008. The concept of an LLP is a type of partnership that combines the features of the partnership firm as well as a company. It is governed by the Limited liability Partnership Act, 2008 governs this type of LLP within India. A minimum of two partners is required to form an LLP. There is however no upper limit for the maximum number of shareholders within an LLP. Within the partnership that are part of the llp registration , there must be at least two designated partners, who must be individuals as well as at least one must reside in India. The rights and obligations for designated partner are defined in the LLP agreement. They are accounta...
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