Solicitors & Lawyers
Legal Phrases
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.
Companies: Internal Governance – Types of Companies under the Companies Act UK
Business Structures – Partnership Assets – Decision Overturned
Fraud & Dishonesty – Fraudulent Misrepresentation and Recovery of Damage: Corporate and Investment Fraud
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