LLP stands for limited liability partnership. As the name suggests, an LLP provides its members with a degree of liability protection, shielding them and their personal assets. [Sign up for stock news ...

A limited liability partnership provides the owners of a small business partnership benefits that a general partnership does not. To understand the structure of a limited liability partnership, it's ...

Before a small business opens its doors, many business owners face an important decision: Will they structure their business as a limited liability corporation (LLC) or a limited liability partnership ...

For professionals willing to fly the coup and start a practice, alone or with other partners, their choice of legal entity is of utmost importance. They may choose to organize as a professional ...

Two important principles governing corporate entities are: (1) the entity is legally distinct from its owners; and (2) the entity’s property and assets belong to the entity, not its owners. These ...

A limited liability partnership (LLP) limits the scope of exposure that general partners must face due to partnership debts, liabilities and malpractice. Texas enacted the first ever LLP law in 1991.

A business organization that allows limited partners to enjoy limited personal liability while general partners have unlimited personal liability A limited partnership is similar to a general ...