What is the difference between an Ordinary Partnership and a Limited Liability Partnership (LLP)?

READ MORE HERE -- https://goo.gl/WS0avO

Are you planning to establish a partnership firm? Do you want to learn how to form a partnership firm ? Let me say some basic elements for a partnership firm. First of all you have to know about what a partnership actually is. A partnership is a business agreement between two or more persons. Persons in a partnership business are called partners and every partner has his own share in firm. The main advantage of a partnership is that it is easy to create than a corporation. A general partnership is an agreement between two or more persons who share profit or loss of the firm equally. Their liability in the firm is unlimited, that means if the firm's assets can not pay off all the debts of the firm during liquidation,debts need to be paid off from their personal property. Limited liability partnership is partnership in which all partners have limited liability to his shares in firm.

========================================================Get updated news @ https://thakurani.in/

Connect

facebook:-   / thakuraniji  

Twitter:-   / thakuranijee  

Google+ :- https://plus.google.com/+ThakuraniIn

Linkedin:-   / thak.  .

Pinterest:-   / thakurani0701  

Instagram:-   / thakurani1