Limited Liability Partnerships

Views Updated: Dec 15, 2025

Key Facts

Abbreviation
LLP
Pronunciation
/ˈlɪmɪtɪd ˌlaɪəˈbɪlɪti ˈpɑrtnərˌʃɪps/
Category
Miscellaneous
Related Field
Unclassified

Examples in Context

  1. There are three typical classifications of partnerships : general partnerships, limited partnerships, and limited liability partnerships.
  2. Unlike corporations and limited liability partnerships on other permission or formality is required and the state corporate division is not involved.
  3. Transforming the organization styles of the scale operation firms and practicing Limited Liability Partnerships(LLP) ( 3 ) developing industry specialization during the scale operation to better the establishment of the accounting firms ' organization structure and improve the auditors ' competent ability;
  4. Further strengthens the construction of limited liability partnerships and creates good condition for the development of single form accounting firm.
  5. The second measure is to perfect the incentive and constraint scheme, concluding standardizing the charging of appraisal, developing the Limited Liability Partnerships(LLP), establishing reputation mechanism, etc.

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