What are the different kinds of business partnerships endorsed by law?

As per law there are two types of partnerships which can be formed to carry on the business. They are Partnership firm and Limited Liability Partnership firm. Partnership firm means when two or more persons enter into an agreement to carry on business with similar interest to earn profit is knows as Partnership firm. LLP is as similar as to the partnership firm, but with limited liabilities. Here are some major differences between Partnership firm and LLP.