What are thedifferences between a limited liability partnership and a limited liability company?
What will be an ideal response?
A limited liability partnership (LLP) is a business organizationproviding limited
liability to partners without restrictionsof limitedpartnership. Partners can participate
in the operation of the business. A limited liability company (LLC) is a business organization
providing limited liability to its owners, but not taxed as a corporation. The LLC is liable for its own debts but there is no personal liability on the part of the owners.
You might also like to view...
MPR can build credibility by placing stories in the media to bring attention to a product, service, person, organization, or idea
Indicate whether the statement is true or false
A ________ is a confederation of organizations that band together to research and develop new products and processes for world markets
A) research and development alliance B) functional alliance C) research and development consortium D) joint venture