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Partnership firm or llp
I AM A PARTNER IN PARTNERSHIP FIRM MANAGED BY MY FAMILY MEMBERS. I WANT TO START A NEW BUSINESS WITH MY SCHOOL FRIENDS, ANY ONE WOULD SUGGEST WHAT TO DO (regular partnership or LLP). we do not want incorporation or initial charges to be at higher end or any other tedious procedures.
also do's and donts's if possible for both
Replies (2)
Registration of partnership firm is easy them llp, return filing and other procedures of partnership I easy then llp, but in partnership firm liability Is unlimited and in llp it's limited.
As you don't want complex procedures, gofor papartnership firm.
thanks for the reply
but waht do the term liability stands for.
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