Governed by Law- Limited Liability Partnership Act,
2008. Hybrid form of Company and Partnership, i.e. liability is limited; and partners can choose their internal operations Prevalent in organizations, which are not product/ manufacturing centric. No minimum capital needed. Mere registeration under LLP Act. Winding Up Provisions, same as Company- Voluntary, or by Court
Salient Features Pg. 448; Legal Aspects of Business by Ravinder Kumar
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