Q. What are the major advantages (pros/merits) of Limited Liability Partnership (LLP)?

LLP is the modern way of doing partnership business in India and have major advantages over the traditional business:

• LLP offers you limited liability and hence secure your personal assets.
• LLP is a separate legal entity and therefore protect you from any legal claim or any legal cases.
• The name of the LLP shall remain unique and no one will be able to copy the same.