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 limited liability partnership (LLP) limits the scope of exposure that general partners must face due to partnership debts, liabilities and malpractice. Texas enacted the first ever LLP law in 1991.

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 ...

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 ...

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 ...

The formation of LLCs has become increasingly common in various corporate structures. They are not only chosen by startups, but by big and established setups and corporations as well because they ...

Learn about limited partnerships, how they compare with other partnerships and how to form a limited partnership. Many, or all, of the products featured on this page are from our advertising partners ...

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IT HAS BEEN MORE THAN A DECADE since the AICPA amended Rule 505, Form of Organization and Name, of its Code of Professional Conduct’s Rules of Practice to permit the practice of accountancy in LLCs ...

Two important principles governing corporate entities are: (1) the entity is legally distinct from its owners; and (2) the entity’s property and assets belong to the entity, not its owners. These ...