When two or more people decide to build a business together, one of the business structures they can elect is a Limited Liability Partnership (LLP). An alternative to forming an LLC or a C-Corpporation, the LLP allows partners to invest while limiting each partner’s liabilities to the amount they invested into the business.
Partnerships
Partnerships are a great way to leverage distinct skill sets that, together, create innovative, cutting-edge companies that offer unique products and services. While most LLP structures are used for professional services, such as attorneys, accountants, and financial advisory firms, it is interesting to note that Apple, Microsoft, and Google are products of two partners collaborating to build something amazing.