LLP is a separate legal entity that gives the benefit of limited liability of company plus the flexibility of partnership, wherein no partner is held liable on account of other’s partner misconduct and their rights and duties to be governed by LLP agreement. Limited Liability Partnership has been introduced in India by way of Limited Liability Partnership Act, 2008. The basic premise behind the introduction of Limited Liability Partnership (LLP) is to provide a form of business organization that is simple to maintain while at the same time providing limited liability to the owners.
The name of your LLP is very important. Your LLP’s name is the first impression to your buyers, suppliers and stakeholders. It should therefore be attractive,relevant and suggestive. There are several factors that you should keep in mind while choosing a name for your company.
The name of your LLP should not be against law. It should not be abusive or against the customs and beliefs of any religion and should not use words or phrases which are used as a slur and are offensive to a particular group of people. Further, the name should not include foul words or phrases.