An LLP is a partnership structure used by many professionals like lawyers, accountants, and architects. It allows partners to have limited liabilities, meaning they are not personally responsible for the financial debts of the partnership. In an LLP, all partners have a right to manage the business directly.
A Ltd Company is a separate legal entity from its owners (shareholders). The shareholders have limited liability, which means their personal assets are protected in case of business failure. The company is managed by directors, who may or may not be shareholders.
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