What is the Difference Between a Partnership and a Limited Liability Partnership (LLP) in India? 🤝🏢 Thinking of starting a business in India? 🤔 Many clients often ask— "Should I form a traditional partnership or go for an LLP?" Let’s break down the key differences and help you choose the right one! 🚀 📌 What Is a Partnership? A partnership is a business structure where two or more individuals come together to run a business with shared profits, losses, and responsibilities. In India, it is governed by the Indian Partnership Act, 1932 . ✔️ Joint Liability – Partners are personally liable for the business’s debts and obligations. ✔️ Simple Formation – A partnership agreement is needed, but no formal registration is mandatory. #Partnership #BusinessStructure #IndianLaw #StartupIndia #BusinessFormation 🔍 What Is a Limited Liability Partnership (LLP)? An LLP is a business structure where partners enjoy the benefits of limited liability while maintaining the flexibilit...