Limited Liability Partnership (A New Business Vehicle for Indian MSMEs)

Sanjay Rautela () and Dr. Kusum Lata Rautela ()
Additional contact information
Sanjay Rautela: Dy. General Manager, National Small Industries Corporation Ltd., Indore.
Dr. Kusum Lata Rautela: Reader, Dr. Shadi Lal College of Education, Meerut.

Journal of Commerce and Trade, 2010, vol. 5, issue 1, 66-69

Abstract: In sole proprietorship/partnership firms, the liability of Proprietor/partners is unlimited. They have the exposure of their personal assets being appropriated & liquidated to meet proprietorship/ partnership dues. In case of companies the liability of promoter is limited. So, a need was felt for a new corporate form with operational flexibility on the one hand, and corporate personality as well as limited liability on the other. The LLP form of business is prevalent in many parts of the world including USA,UK, Canada, Germany, China, Singapore etc. LLP is a body corporate and a legal entity separate from its partners. Any two or more persons/ corporate may form a Limited Liability Partnership. No partner would be liable on account of the independent or un-authorized actions of other partners or their misconduct. Any firm, private company or an unlisted public company is allowed to be converted into LLP in accordance with the provisions of the Act.

Keywords: stress; employee attraction; pressure; turnover; retention strategies (search for similar items in EconPapers)
JEL-codes: A0 C0 (search for similar items in EconPapers)
Date: 2010
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.jctindia.org/index.php/jct/article/view/a10-srklr (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:jct:journl:v:5:y:2010:i:1:p:66-69

Access Statistics for this article

Journal of Commerce and Trade is currently edited by Dr. Himanshu Agarwal

More articles in Journal of Commerce and Trade from Society for Advanced Management Studies
Bibliographic data for series maintained by Dr. Himanshu Agarwal ().