llp llc

llp llc are two different types of business structures commonly used in the United States. An LLP (Limited Liability Partnership) is a partnership where all partners have limited liability for the company’s debts and obligations. An LLC (Limited Liability Company) is a business entity that provides liability protection to its owners (members), similar to an LLP, but with more flexibility in management and tax treatment. Both structures offer personal liability protection, but an LLC is generally more flexible in terms of ownership and operations.