BUSINESS LAW Speech or Presentation Example | Topics and Well Written Essays - 250 words

BUSINESS LAW - Speech or Presentation ExampleUnlike members of medium partnerships, the LLP itself is responsible for any(prenominal) debts that it runs up, not the individual partners. 3 The Limited Liability Partnership (LLP) is viewed as an selection corporate business vehicle that provides the benefits of limited liability but allows its members the flexibility of organizing their internal structure as a partnership based on a mutually arrived agreement. The LLP form would enable entrepreneurs, professionals and enterprises providing services of any kind or engaged in scientific and technical disciplines, to form commercially efficient vehicles fit to their requirements. Owing to flexibility in its structure and operation, the LLP would also be a suitable vehicle for thin enterprises and for investment by venture capital. 4 Members in case of negligence or fraud be personally liable only if he assumes personal responsibility for the acts done.