Llp Uncommon

Definition, synonyms and related words

Definitions

Noun

Initialism of limited liability partnership.

"The new accounting firm was registered as an LLP to protect its partners from personal liability for business debts."

In plain English: An LLP is a type of business partnership where partners are not personally responsible for each other's mistakes or debts.

"They formed an LLP to run their accounting firm together without personal liability for each other's mistakes."

Example Sentences

"They formed an LLP to run their accounting firm together without personal liability for each other's mistakes." noun

"The new llp was formed to handle all our legal contracts more efficiently." noun

"Many small businesses choose to register as an llp for limited liability protection." noun

"Our office hired a fresh llp last week who knows the local laws well." noun