The “limited liability partnership” is an increasingly popular way for companies, particularly in the professional services sector, to establish. GIA are leaders in LLP formation and LLP registration services. If you are considering using an LLP structure for a new business, talk to our team about the best way to do it to suit your business goals. The “limited” in LLP is the same as with limited companies – it is a limit on financial liability for the directors, meaning their assets cannot be taken away from them if the company fails. Just like with a limited company, an LLP is a separate legal entity. It can enter into contracts like a limited company and can enter finance agreements, which take charge over the LLP’s assets.