Hostings
20-06-2003, 12:38
http://www.mof.gov.sg/cor/public_LP-LLP.html
An LP consists of one or more general partners and one or more limited partners. Limited partners of an LP enjoy limited liability but are unable to take part in the management of the firm. LPs are increasingly used for private equity and fund investment businesses.
An LLP, on the other hand, is a business structure that offers all its members limited liability while allowing them to retain the flexibility of operating the LLP as a traditional partnership. A partner of an LLP is not personally liable for the malpractice of other partners in the firm. The partner is however personally liable for his own negligence and personal misconduct. LLPs are commonly used by professional firms and start-ups.
The government, as of 18th June 2003, had approved this two scheme, after revising the THO to HO. As reported from TNP 19th June 2003, support of LLP is overwhelming.
Do you have any comments on it?
An LP consists of one or more general partners and one or more limited partners. Limited partners of an LP enjoy limited liability but are unable to take part in the management of the firm. LPs are increasingly used for private equity and fund investment businesses.
An LLP, on the other hand, is a business structure that offers all its members limited liability while allowing them to retain the flexibility of operating the LLP as a traditional partnership. A partner of an LLP is not personally liable for the malpractice of other partners in the firm. The partner is however personally liable for his own negligence and personal misconduct. LLPs are commonly used by professional firms and start-ups.
The government, as of 18th June 2003, had approved this two scheme, after revising the THO to HO. As reported from TNP 19th June 2003, support of LLP is overwhelming.
Do you have any comments on it?