An LLP is an unincorporated business owned and run by multiple people whose assets are protected. Many, or all, of the products featured on this page are from our advertising partners who compensate ...

A managing partner filed an involuntary chapter 7 petition against a professional limited liability partnership. The bankruptcy court denied the petition and dismissed the case based on its ...

Limited liability partnerships, or LLPs, came into existence in the United States in 1991 when the state of Texas signed the first LLP law into existence. Many other states soon followed. LLPs provide ...

LLP stands for limited liability partnership. As the name suggests, an LLP provides its members with a degree of liability protection, shielding them and their personal assets. "A partner of a ...

Before a small business opens its doors, many business owners face an important decision: Will they structure their business as a limited liability corporation (LLC) or a limited liability partnership ...

It can be argued that the first requirement of the ‘successful’ business structure is limited liability: without this protection against failure, many businesses would simply not assume the commercial ...