Word
LLP
Phoneticsllp
Definition
n. Stands for Limited Liability Partnership. A type of business where the owners share the work but are not personally responsible for all the company's debts.
n. Abbreviation for Limited Liability Partnership, a corporate structure where partners have reduced personal responsibility for the business's legal and financial obligations. Often used in professional services like law or accounting.
Examples
“The law firm is registered as an LLP.”
“By forming an LLP, the architects protected their personal assets from the firm's potential legal liabilities.”
“The transition from a traditional partnership to an LLP allowed the senior consultants to expand the firm's operations while mitigating individual exposure to the company's growing debt obligations.”
Examples
simple
“The law firm is registered as an LLP.”
contextual
“By forming an LLP, the architects protected their personal assets from the firm's potential legal liabilities.”
complex
“The transition from a traditional partnership to an LLP allowed the senior consultants to expand the firm's operations while mitigating individual exposure to the company's growing debt obligations.”
Usage
Typically used as a post-nominal title in business names; functions as a countable noun when referring to the entity itself.
Domains
Scan code
englishreference.com/q/llp