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Limited liability partnerships

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The limited liability partnership (LLP) is a partnership entered into by 2 or more individuals in which the liability of the partners is limited.

As a partner of an LLP, you won't be personally liable for debts that the business may have incurred. However, you may lose the money that you invested in the business if it becomes insolvent.

This section will explain the basics of LLPs, including the legal requirements that you need to think about when setting up.

This section will also cover the limited liability partnership agreement, the contract that the partners enter into.

What is the law guide

The Desktop Lawyer law guide aims to present the law to you in a comprehensive yet jargon-free and easy-to-read format. Our law guide is constantly kept up to date with changes in business and family law by our team of in house solicitors, and includes information across all the legal jurisdictions in the UK.

Our law guide is free to use. Where we provide documents related to this area of law, or where they may help you with any legal issue in this area, they will be listed to the right of this message.