Arunesh Kumar Gupta
Abstract: There are many types of business forms in business world. Choosing the form of business organization is an important decision because it can be critical to the success or the failure of the business. Each form of business organization has its advantages and disadvantages form of business organization are directly related to the ownership of business. Ownership is a legal concept that decides the rights and liabilities of owner. The purpose of this paper is to know about limited liability partnership which is an emerging form of business. This paper covers brief knowledge of various form of business and a study of limited liability partnership. In this paper we will know that what is limited liability partnership, what are the advantages and disadvantages of limited liability partnership. How an LLP incorporated and how LLP dissolves.
Keywords: Partnership firm, Hindu undivided family, joint stock company, limited liability partnership LLP