Solicitors & Lawyers
Legal Meanings
Term: limited liability partnership
1.
A limited liability partnership ('LLP') shares features of limited liability companies and unincorporated partnerships. Limited liability partnerships enjoy the protections of limited liability that exist in English company law and is subject to lower taxation rates than companies.
Usage: The limited liability partnership commenced trading in the textiles market.
Related Words: company; partnership; sole trader; limited company; public company; Registrar of Companies.
Regulatory Compliance – Briefing Note - Background, Nature and Effect of Articles of Association under UK Company Law
Share Transactions – Enterprise Investment Scheme Shares and Investment Capital
Companies: Internal Governance – Briefing Note - The Role of the Memorandum of Association under Company Law
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