Limited Liability Partnership (LLP) is a partnership firm which follows the LLP Act, 2008 in India. Limited Liability Partnerships are immensely popular form of business in all over the world due to its easy and simple business plan. This is entirely different from limited partnerships where both partners are responsible for their roles and other conducts. Limited Liability business is really most sought after as no partner is held responsible or liable for any one's behavior as per the partnership Act, 2008. It's formed by minimum two members as partners and there are no maximum limits for this type of business. Limited Liability Company is an association of persons or a legal entity formed for profit motive and more importantly the business is different from its partners in every legal case. LLP company is has more benefits as compared than other big companies as it's formation cost is very low and the other legal requirements are also low as compared some big multinational companies in India.
Limited Liability Partnership Company is a form of business or association of minimum two persons as partners with limited liability and it has flexible form of both partnership and company culture in this set up. It's a separate legal entity which is totally different from its members in case of any legal cases in the running a business for profits. Limited Liability Partnership Company is formed as per the limited partnership act, 2008 and it works like limited company. It's a flexible form of business model which don't impose any legal procedures on its members and partners while running the partnership business for profit motives. Limited liability partnership companies are going to be a very popular mode of business in the recent past due to its low formation cost and easy management models as compared to other companies in India. Limited liability partnership companies best form of business organizations as it follows simple business model and less legal requirements as compared than other groups.