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A Limited Liability Partnership (LLP) is a great choice for businesses because it combines the benefits of a partnership and a company. Limited liability, which protects partners from corporate responsibilities and only keeps them accountable for their investment, is an important benefit. Also, LLPs are easier to operate because they are committed to less regulatory requirements than private firms. They provide management flexibility and unlimited profit sharing for partners. LLPs also have legal identity, which means that even if partners change, the business will still operate.
