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      • An LLP is a business formed between two or more partners. The partners can be individuals or other entities. Though LLPs are usually formed by a group of individual professionals. Common examples of LLPs include: private general and specialty doctors' offices dentist offices law firms, and financial and accounting firms.
      www.nolo.com › legal-encyclopedia › why-choose-limited-liability-partnership-llp

      Why Choose a Limited Liability Partnership (LLP)? | Nolo

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  3. www.investopedia.com › articles › investingLimited Liability Partnership (LLP): Meaning and Features

    Jan 13, 2024 · A limited liability partnership (LLP) is a flexible legal and tax entity where every partner has a limited personal liability for the debts or claims of the partnership. Partners of an LLP can...

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  4. www.legalzoom.com › llp-overviewStart Your Limited Liability Partnership (LLP) Online at a ...

    Quickly set up an LLP (Limited Liability Partnership) online. Limit personal liability and protect your business by forming an LLP through LegalZoom. Get started here!

  5. www.nerdwallet.com › limited-liability-partnershipLimited Liability Partnership: Pros and Cons - NerdWallet

    Dec 1, 2020 · Create a partnership agreement: An LLP agreement is a legal document that details the terms of your partnership. The agreement should outline the roles of each of the partners, how profits and...

  6. www.justia.com › business-operations › starting-yourLimited Liability Partnerships (LLPs) Under the Law - Justia

    Oct 18, 2023 · Additionally, most states require partners to file a formal registration of an LLP with all necessary state agencies, and to include the designation “LLP” in the business name so that others, including clients, are aware that the partnership has limited liability.

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  8. www.fundera.com › blog › limited-liability-partnershipLimited Liability Partnership: What Is an LLP and ... - Fundera

    Oct 28, 2020 · LLPs are particularly common among professional businesses, such as architecture, law, and accounting firms. Read on to learn more about how limited liability partnerships work and how to form a limited liability partnership as a small business owner.

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  9. www.legalshield.com › blog › small-businessWhat is an LLP & How Do You Set One Up? - LegalShield

    Aug 4, 2021 · How do you form an LLP? Once you believe that an LLP is the right entity for you and your partners, follow these steps for LLP setup, including registering with the appropriate state agency. 1. Determine your eligibility.

  10. www.nolo.com › legal-encyclopedia › llc-vs-llp-whatLLC vs. LLP: What Is the Difference? - Nolo

    You can usually create an LLC by filing formation paperwork—usually called "articles of organization"—with your secretary of state. When properly formed, the business is a separate entity from its owners. So, you can purchase property and open a bank account under your LLC's name.

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