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What are the differences between a corporation and a limited partnership investment holding company?

Submitted by LegalWizin on Sat, 11/02/2019 - 11:09

The Corporations and Limited liability Partnership, both are completely different form of businesses.
A corporation is a type of business which is formed by group of people, which is a separate legal entity and it has a limited liability. The shareholders are the owners of the corporation whereas LLP is such an organization, where 2 or more person comes together to carry on the business with common goal of earning profit out of the capital invested in the LLP with limited liability. In an LLP one can enjoy both the benefits of flexibility of Partnership and distinctness of Company Structure. Here the owners are known as Designated Partners and Partners in LLP.