Incorporation of Limited Liability Partnership [Sections 11 — 21]

Before you open a shop in a Navi Mumbai market you need a name board, an address where the municipal notice can be pasted, and some proof you are allowed to trade. A business that wants the shield of limited liability needs the same three things on paper: a name, an address, and a certificate from the State. How does a group of people actually become an LLP, and what do they have to print on every invoice afterwards? Sections 11 to 21 of the LLP Act answer both.

In two minutes

An LLP comes into existence when two or more persons subscribe an incorporation document, file it with the Registrar with a compliance statement from a professional, and receive a certificate that is conclusive evidence of incorporation.

The rest of this chapter

The full explanation, the cheat sheet, every previous-year question at every mark weight, the quiz and the answer skeletons are part of Contract – II on LexBlox Semester. Sign in to unlock the subject, or read Module 1 of Legal Language and Writing free.