What are the major advantages (pros/merits) of Limited Liability Partnership (LLP)?

What are the major advantages (pros/merits) of Limited Liability Partnership (LLP)?

LLP is the modern way of doing partnership business in India and have major advantages over the traditional business:

  • LLP offers you limited liability and hence secure your personal assets.
  • LLP is a separate legal entity and therefore protect you from any legal claim or any legal cases.
  • The name of the LLP shall remain unique and no one will be able to copy the same.

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