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 AFFIDAVIT REGARDING LIMITED PARTNERSHIP, LIMITED LIABILITY 2021-2025

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hello and welcome to this session in which we will discuss a limited liability partnership or known as LLP LLP share many similarities with the general partnership that we talked about in the prior sessions we had three sessions about general partnership so if you are not familiar with general partnership I strongly suggest you look at the general partnership because limited liability partnership and general partnership are very similar I'm only going to be discussing the differences especially when it comes to how profit and losses are managed are distributed well what is that equal unless agreed otherwise so unless there's an agreement then how on how the profit is distributed we assume it is distributed equally now there are certain differences between LLP and a general partnership especially when it comes to personal liability and the business formation and this is what we what we'll need to discuss in this session specifically The Limited person liability o

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