February 2011 Archive

Key characteristics of Limited Liability Partnerships

A Limited Liability Partnership (‘LLP’) is an alternative corporate business vehicle that combines the flexible structure of a partnership with the benefits for its partners of limited liability. LLPs are relatively new entities, the legislation creating them having come into existence in April 2001. They have a number of statutory requirements and failure to comply may result in a fine for the LLP and/or for all members in default.
Filter by expertise