Limited Liability Partnership vs Private Limited Company
By Team Legistify / 2016-10-18
The concept of Limited Liability Partnership has been brought into by way of enforcing Limited Liability Act, 2008. The idea is to get the flexibility of the Partnership and Benefits of Corporate Body like Company to bring together under one structure of the organisation. Not necessarily everyone should opt for an LLP but the one who is looking for long-term growth and are willing to jump into corporate world without facing the high restriction caused in case of Companies, opt for LLP

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LLP or Limited Liability Partnership is a business entity in which both partner and corporation exist and a partner is not responsible or liable for another partner's misconduct or negligence. An LLP is registered under LLP Act, 2008.

A Private Limited Company or PLC is a type of privately held small business entity. This type of business entity limits owner liability to their shares limits the number of shareholders to 50 and restricts shareholders from publicly trading shares.

Registration Process

Private Limited Company Registration

  • Obtain Digital Signature Certificate (DSC) for proposed director
  • Obtain Director Identification Number (DIN) for proposed director
  • Obtain name approval from MCA
  • File for Incorporation
The concept of Limited Liability Partnership has been brought into by way of enforcing Limited Liability Act, 2008. The idea is to get the flexibility of the Partnership and Benefits of Corporate Body like Company to bring together under one structure of the organisation. Not necessarily everyone should opt for an LLP but the one who is looking for long-term growth and are willing to jump into corporate world without facing the high restriction caused in case of Companies, opt for LLP

Have a Legal Issue?

Get connected to the Best Lawyers and Chartered Accountants Near You!


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