What is the LLP Full Form and what does Limited Liability Partnership mean?

 The [LLP Full Form](https://www.companiesnext.com/blog/llp-vs-private-limited-company-a-comparative-analysis-for-business-owners) stands for Limited Liability Partnership. A Limited Liability Partnership is a modern business structure that blends the flexibility of a traditional partnership with the benefits of limited liability protection typically enjoyed by companies.

In an LLP, each partner’s liability is limited to the amount they invest in the business. This means that if the LLP faces financial loss or legal issues, the personal assets of partners are protected. Unlike a traditional partnership, where each partner is jointly and severally liable, an LLP ensures that one partner is not responsible for another partner’s misconduct or negligence.

A Limited Liability Partnership is governed by the Limited Liability Partnership Act, 2008 in India. It is a preferred choice among startups, professionals, and small businesses because it offers operational flexibility, fewer compliance requirements compared to private limited companies, and tax advantages similar to partnerships.

In simple terms, the LLP Full Form – Limited Liability Partnership – represents a business model that provides the perfect balance between security and simplicity, making it one of the most popular forms of business registration in India today.