Limited Liability (LLP)

A Limited Liability Partnership (LLP) is an ideal business structure for those looking to combine the benefits of a partnership with the safety net of limited liability, as outlined in the Limited Liability Partnership Act, 2008. This means that while you can enjoy the flexibility and collaborative spirit of a partnership, your personal assets remain protected from the business’s debts and obligations.

Registering an LLP in India is straightforward and involves submitting the required documents to the Registrar of Companies (ROC). Once your LLP is registered, it becomes a separate legal entity, capable of owning property, entering contracts, and taking on debt in its own name. One of the significant advantages of an LLP is that each partner’s liability is limited to their capital contribution, providing peace of mind that your personal assets are safeguarded.

Another great feature of an LLP is its perpetual succession, which means the partnership doesn’t dissolve if a partner leaves or passes away. This ensures stability and continuity for your business. Whether you’re a budding entrepreneur or an established professional, an LLP offers the perfect blend of flexibility and protection, making it a popular choice for many business owners in India.

The owner of the registered work can use the product or even license his work for a fee. Copyrights are also transferrable. There are various rights which a copyright owner has under this act. Generally, every business and start-up get copyright registration for their instruction manuals, product literature and user guides.