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Asset Protection & Business Planning
Limited Liability Partnership
The Limited Liability Partnership ("LLP") form of doing business is not as common as other business entities. This is essentially because it is only available to certain professionals, such as physicians, accountants and engineers. It was created by State legislatures for professionals to allow them to pool resources and work together in a business relationship, yet not be jointly and several liability for the malpractice of another partner in the relationship.
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