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The key features of an LLP are:
- It has unlimited capacity as it has a separate legal personality and can therefore hold property, enter into contracts, sue or be sued in it's own right
- It offers limited liability protection for its members;
- There are no directors or shareholders of an LLP
It has a flexible internal structure and is not required to have a Memorandum & Articles of Association
- All members of an LLP acts as an agent for that LLP.
- An LLP is required to deliver annual accounts and submit an annual return to Companies House
Aimed initially at professional partnerships an LLP will give businesses a further choice as to how they wish to operate. Arguably the traditional form of partnership is inappropriate for many partnerships operating today. A rise in the incidence of litigation with the size of claims increasing beyond insurance cover and a growth in the size of partnerships has caused increasing concern for both the large and smaller partnerships
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Register a limited liability partnership today for just £95.00 + VAT 
