What is limited liabilited companies?

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Querist : Anonymous

Querist : Anonymous (Querist)

26 October 2013 what is limited liabilited companies?
pls define it in simple words.. its my humble request not to define it in book`s language...

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

26 October 2013 Limited Liability Partnership (LLP) is a new corporate structure that combines the flexibility of a partnership and the advantages of limited liability of a company at a low compliance cost. In other words, it is an alternative corporate business vehicle that provides the benefits of limited liability of a company, but allows its members the flexibility of organising their internal management on the basis of a mutually arrived agreement, as is the case in a partnership firm.

Owing to flexibility in its structure and operation, it would be useful for small and medium enterprises, in general, and for the enterprises in services sector, in particular. Internationally, LLPs are the preferred vehicle of business, particularly for service industry or for activities involving professionals.

must read:
https://www.caclubindia.com/articles/an-overview-of-limited-liability-partnership-llp-in-india-15620.asp#.Umto6lNHhkg

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Ajay Mishra

Ajay Mishra (Expert)

26 October 2013 Agrees with Expert suggestion on LLP.

In addition you can also go to the below link:

https://www.ourprofessionalteam.com/phocadownload/formation%20of%20limited%20liability%20partnership5.pdf

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