Limited Liability Partnership (LLP) defined: A limited liability partnership (LLP) is two or more partners united to conduct a business jointly, and in which one or more of the partners is liable only to the extent of the amount of money that partner has invested. Limited partners do not receive dividends, but enjoy direct access to the flow of income and expenses.
Above is a definition for “Limited Liability Partnership (LLP)” from PrivCo’s Private Company Knowledge Bank, the definitive online and e-book guide to private companies and private company deals.
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